Seaport Res Ptn Comments on Steel Dynamics FY2024 Earnings

Steel Dynamics, Inc. (NASDAQ:STLD) – Equities researchers at Seaport Res Ptn issued their FY2024 earnings per share estimates for Steel Dynamics in a report released on Tuesday, January 21st. Seaport Res Ptn analyst M. Englert forecasts that the basic materials company will post earnings of $9.76 per share for the year. The consensus estimate for Steel Dynamics’ current full-year earnings is $9.70 per share. Seaport Res Ptn also issued estimates for Steel Dynamics’ Q4 2024 earnings at $1.32 EPS.

A number of other brokerages have also weighed in on STLD. Citigroup reduced their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Jefferies Financial Group decreased their price target on Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group began coverage on Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective on the stock. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, BMO Capital Markets boosted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $140.88.

Steel Dynamics Stock Performance

Shares of STLD opened at $122.89 on Thursday. The firm has a market capitalization of $18.71 billion, a PE ratio of 11.12 and a beta of 1.36. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $127.92 and a 200 day moving average price of $126.41. Steel Dynamics has a 52-week low of $104.60 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. During the same period in the prior year, the firm posted $2.61 earnings per share.

Institutional Investors Weigh In On Steel Dynamics

A number of institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new position in shares of Steel Dynamics in the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC purchased a new position in Steel Dynamics during the fourth quarter valued at approximately $28,000. Private Trust Co. NA increased its stake in Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after buying an additional 245 shares during the period. Brooklyn Investment Group purchased a new stake in Steel Dynamics in the 3rd quarter worth approximately $61,000. Finally, Quest Partners LLC acquired a new stake in shares of Steel Dynamics during the 3rd quarter valued at $62,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This trade represents a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the sale, the senior vice president now directly owns 116,949 shares in the company, valued at approximately $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,650 shares of company stock valued at $1,498,170. 6.00% of the stock is owned by corporate insiders.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a $0.46 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.50%. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.