KeyCorp Weighs in on Steel Dynamics FY2026 Earnings

Key Points

• KeyCorp initiated FY2026 earnings coverage on Steel Dynamics with an Overweight rating and a $262 price target, while estimating EPS of $16.30 for the year versus the broader consensus of $16.91.
• Steel Dynamics recently reported quarterly earnings of $2.78 EPS on $5.20 billion in revenue, narrowly missing Wall Street estimates, though revenue still rose 19.1% year over year.
• The company declared a quarterly dividend of $0.53 per share, payable July 10, and insider activity showed recent stock sales by executives, including SVP James Stanley Anderson and Director Kenneth W. Cornew.

Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) - Investment analysts at KeyCorp issued their FY2026 earnings estimates for shares of Steel Dynamics in a research report issued on Tuesday, June 23rd. KeyCorp analyst S. Mckinney anticipates that the basic materials company will post earnings per share of $16.30 for the year. KeyCorp has a "Overweight" rating and a $262.00 price target on the stock. The consensus estimate for Steel Dynamics' current full-year earnings is $16.91 per share.

A number of other equities research analysts have also recently weighed in on STLD. Morgan Stanley increased their price target on Steel Dynamics from $227.00 to $270.00 and gave the company an "equal weight" rating in a research note on Monday. Jefferies Financial Group reaffirmed a "buy" rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Citigroup upped their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Wall Street Zen raised shares of Steel Dynamics from a "hold" rating to a "buy" rating in a research report on Saturday, April 18th. Finally, Bank of America cut their target price on shares of Steel Dynamics from $285.00 to $280.00 and set a "neutral" rating for the company in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $236.36.

Steel Dynamics Stock Performance

STLD opened at $251.00 on Friday. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. Steel Dynamics has a 12-month low of $119.89 and a 12-month high of $288.74. The business has a 50 day moving average of $243.35 and a 200-day moving average of $202.56. The stock has a market cap of $36.32 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 0.47 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company's revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 EPS.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. Steel Dynamics's payout ratio is presently 22.67%.

Insider Activity

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the transaction, the senior vice president directly owned 102,837 shares in the company, valued at $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth W. Cornew sold 5,000 shares of the firm's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total value of $1,124,350.00. Following the completion of the sale, the director directly owned 31,299 shares in the company, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 22,125 shares of company stock worth $5,438,226. Insiders own 6.60% of the company's stock.

Institutional Trading of Steel Dynamics

Several institutional investors and hedge funds have recently modified their holdings of STLD. Prosperity Bancshares Inc bought a new position in Steel Dynamics in the fourth quarter valued at about $25,000. MV Capital Management Inc. bought a new position in shares of Steel Dynamics in the fourth quarter worth about $27,000. Sound Income Strategies LLC boosted its stake in shares of Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 150 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new stake in shares of Steel Dynamics in the 1st quarter valued at approximately $31,000. Finally, DV Equities LLC bought a new stake in shares of Steel Dynamics during the 4th quarter valued at approximately $33,000. 82.41% of the stock is currently owned by institutional investors.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company's product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.

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