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Steel Dynamics, Inc. (NASDAQ:STLD - Get Rating) - Analysts at KeyCorp issued their Q4 2022 EPS estimates for Steel Dynamics in a note issued to investors on Monday, August 22nd. KeyCorp analyst P. Gibbs anticipates that the basic materials company will post earnings per share of $3.73 for the quarter. The consensus estimate for Steel Dynamics' current full-year earnings is $21.07 per share.
Steel Dynamics (NASDAQ:STLD - Get Rating) last released its earnings results on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.39. The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $5.93 billion. Steel Dynamics had a net margin of 19.81% and a return on equity of 71.50%. The firm's quarterly revenue was up 39.1% compared to the same quarter last year. During the same period last year, the firm posted $3.40 earnings per share.
STLD has been the topic of several other reports. The Goldman Sachs Group downgraded shares of Steel Dynamics from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $114.00 to $92.00 in a research report on Tuesday, May 31st. UBS Group set a $95.00 price objective on shares of Steel Dynamics in a research report on Monday, June 20th. Morgan Stanley lowered their price objective on shares of Steel Dynamics from $94.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Steel Dynamics presently has a consensus rating of "Hold" and a consensus target price of $91.00.Steel Dynamics Stock Performance
Steel Dynamics stock opened at $81.39 on Thursday. The firm's 50 day simple moving average is $72.90 and its 200-day simple moving average is $76.50. The company has a market cap of $14.86 billion, a P/E ratio of 3.62 and a beta of 1.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.52 and a quick ratio of 1.87. Steel Dynamics has a fifty-two week low of $50.54 and a fifty-two week high of $100.37. Steel Dynamics Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Thursday, September 29th. Steel Dynamics's dividend payout ratio (DPR) is presently 6.05%. Insider Buying and Selling at Steel Dynamics
In other news, Director Keith E. Busse sold 5,040 shares of the business's stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $83.51, for a total value of $420,890.40. Following the completion of the sale, the director now directly owns 724,034 shares in the company, valued at $60,464,079.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.40% of the company's stock. Institutional Trading of Steel Dynamics
A number of institutional investors and hedge funds have recently modified their holdings of the company. Cordatus Wealth Management LLC bought a new position in Steel Dynamics during the second quarter worth $1,003,000. Prelude Capital Management LLC bought a new position in Steel Dynamics during the second quarter worth $422,000. Captrust Financial Advisors increased its position in Steel Dynamics by 5.3% during the second quarter. Captrust Financial Advisors now owns 43,525 shares of the basic materials company's stock worth $2,894,000 after acquiring an additional 2,176 shares during the period. ExodusPoint Capital Management LP increased its position in Steel Dynamics by 7.5% during the second quarter. ExodusPoint Capital Management LP now owns 136,695 shares of the basic materials company's stock worth $9,042,000 after acquiring an additional 9,529 shares during the period. Finally, Centiva Capital LP bought a new position in Steel Dynamics during the second quarter worth $960,000. 83.19% of the stock is currently owned by institutional investors and hedge funds. Steel Dynamics Company Profile (Get Rating)
Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.Recommended StoriesGet a free copy of the StockNews.com research report on Steel Dynamics (STLD)PENN Entertainment Stock is Reset and Ready to Rebound3 Payroll Software Makers Set For Growth In 2023NVIDIA: A Top Choice In Bifurcated Chip Market? NYSE Stocks Give Investors a Variety of Quality Options Zoom Video Communications Valuation Is Realigned With Reality
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