Seaport Res Ptn Expects Stronger Earnings for Steel Dynamics

Steel Dynamics, Inc. (NASDAQ:STLD) – Investment analysts at Seaport Res Ptn increased their FY2024 earnings estimates for shares of Steel Dynamics in a report released on Thursday, October 17th. Seaport Res Ptn analyst M. Englert now expects that the basic materials company will earn $9.98 per share for the year, up from their prior forecast of $9.97. The consensus estimate for Steel Dynamics’ current full-year earnings is $10.12 per share. Seaport Res Ptn also issued estimates for Steel Dynamics’ Q2 2025 earnings at $3.18 EPS, Q3 2025 earnings at $2.96 EPS and Q4 2025 earnings at $2.78 EPS.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. Steel Dynamics’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.47 earnings per share.

STLD has been the topic of several other research reports. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday. BMO Capital Markets lifted their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday. Morgan Stanley lowered their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and an average price target of $144.29.

Steel Dynamics Stock Down 2.3 %

STLD opened at $133.45 on Monday. The company has a market capitalization of $20.59 billion, a PE ratio of 12.07 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.19. Steel Dynamics has a fifty-two week low of $98.32 and a fifty-two week high of $151.34. The business has a 50-day moving average of $120.79 and a 200-day moving average of $127.22.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.46 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.38%. Steel Dynamics’s payout ratio is presently 16.65%.

Insider Buying and Selling

In other news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Steel Dynamics

Several hedge funds have recently made changes to their positions in STLD. Wedmont Private Capital bought a new stake in shares of Steel Dynamics in the 1st quarter worth approximately $231,000. Park Avenue Securities LLC lifted its position in Steel Dynamics by 11.1% in the first quarter. Park Avenue Securities LLC now owns 3,874 shares of the basic materials company’s stock worth $574,000 after purchasing an additional 386 shares during the period. Ballentine Partners LLC acquired a new stake in Steel Dynamics during the first quarter worth $227,000. Northwest Investment Counselors LLC bought a new stake in Steel Dynamics in the 1st quarter valued at $83,000. Finally, Gateway Investment Advisers LLC raised its stake in shares of Steel Dynamics by 1.5% in the 1st quarter. Gateway Investment Advisers LLC now owns 55,324 shares of the basic materials company’s stock valued at $8,201,000 after buying an additional 822 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

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.