Zacks Research Weighs in on Steel Dynamics FY2024 Earnings

Steel Dynamics, Inc. (NASDAQ:STLD) – Analysts at Zacks Research issued their FY2024 earnings per share estimates for Steel Dynamics in a research note issued to investors on Tuesday, January 21st. Zacks Research analyst R. Department forecasts that the basic materials company will post earnings per share of $9.72 for the year. The consensus estimate for Steel Dynamics’ current full-year earnings is $9.70 per share. Zacks Research also issued estimates for Steel Dynamics’ Q4 2024 earnings at $1.28 EPS, Q1 2025 earnings at $1.72 EPS, Q2 2025 earnings at $2.31 EPS, Q3 2025 earnings at $2.34 EPS, FY2025 earnings at $8.48 EPS, Q3 2026 earnings at $3.17 EPS, Q4 2026 earnings at $1.95 EPS and FY2026 earnings at $10.77 EPS.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data 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 net margin of 9.80% and a return on equity of 19.82%. During the same quarter last year, the company posted $2.61 EPS.

Other equities research analysts have also issued reports about the stock. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. dropped their price target on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Jefferies Financial Group reduced their price objective 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. BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, UBS Group reiterated a “neutral” rating and issued a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $140.88.

Steel Dynamics Trading Down 1.4 %

Shares of Steel Dynamics stock opened at $122.89 on Thursday. The firm’s 50 day simple moving average is $127.92 and its two-hundred day simple moving average is $126.41. The firm has a market capitalization of $18.71 billion, a price-to-earnings ratio of 11.12 and a beta of 1.36. Steel Dynamics has a 12-month low of $104.60 and a 12-month high of $155.56. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31.

Steel Dynamics Announces Dividend

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

Insider Transactions at Steel Dynamics

In other news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the sale, the senior vice president now directly owns 116,949 shares in the company, valued at $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,650 shares of company stock valued at $1,498,170 in the last 90 days. 6.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Steel Dynamics

Large investors have recently added to or reduced their stakes in the stock. Holocene Advisors LP increased its stake in shares of Steel Dynamics by 85.8% during the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after purchasing an additional 1,060,007 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Steel Dynamics by 6.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock worth $194,933,000 after buying an additional 96,122 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Steel Dynamics by 22.4% in the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after buying an additional 253,802 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Steel Dynamics by 116.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after buying an additional 548,086 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Steel Dynamics by 21.8% during the third quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock valued at $56,603,000 after acquiring an additional 80,262 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Company Profile

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.