KeyCorp Comments on Steel Dynamics FY2024 Earnings

Steel Dynamics, Inc. (NASDAQ:STLDFree Report) – Investment analysts at KeyCorp issued their FY2024 earnings per share (EPS) estimates for Steel Dynamics in a research note issued to investors on Tuesday, January 21st. KeyCorp analyst P. Gibbs forecasts that the basic materials company will post earnings of $9.80 per share for the year. The consensus estimate for Steel Dynamics’ current full-year earnings is $8.93 per share.

Several other equities research analysts have also recently issued reports on the stock. Citigroup lowered their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group initiated coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target for the company. StockNews.com downgraded Steel Dynamics from a “hold” rating to a “sell” rating in a report on Thursday. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $143.38.

Get Our Latest Analysis on STLD

Steel Dynamics Stock Down 0.0 %

Shares of STLD opened at $122.35 on Friday. The firm has a fifty day moving average price of $127.27 and a 200-day moving average price of $126.38. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $18.63 billion, a P/E ratio of 12.48 and a beta of 1.36. Steel Dynamics has a 12-month low of $104.60 and a 12-month high of $155.56.

Steel Dynamics (NASDAQ:STLDGet Free Report) 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 analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.25%. During the same period in the previous year, the firm posted $2.61 EPS.

Institutional Investors Weigh In On Steel Dynamics

Several institutional investors have recently added to or reduced their stakes in STLD. Commerce Bank raised its position in shares of Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock valued at $754,000 after purchasing an additional 73 shares during the last quarter. M&T Bank Corp increased its stake in Steel Dynamics by 0.9% during the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock valued at $1,267,000 after purchasing an additional 88 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in shares of Steel Dynamics by 5.0% in the fourth quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company’s stock worth $220,000 after buying an additional 91 shares during the last quarter. Covestor Ltd lifted its stake in shares of Steel Dynamics by 10.8% during the third quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after buying an additional 93 shares during the period. Finally, Dorsey Wright & Associates grew its holdings in shares of Steel Dynamics by 0.4% during the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock valued at $3,050,000 after buying an additional 96 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction 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 in the company, 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 worth $1,498,170 over the last quarter. Insiders own 6.00% of the company’s stock.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s payout ratio is currently 18.78%.

Steel Dynamics Company Profile

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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.

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Earnings History and Estimates for Steel Dynamics (NASDAQ:STLD)

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