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Steel Dynamics Falls After Q3 EPS Miss Despite Record Shipments

Investivoq PriceTracker

Steel Dynamics (STLD) is down 5.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is a third-quarter earnings report that showed strong sales and record steel shipments, but earnings per share still came in below both Wall Street expectations and the company’s own September guidance range. Investors appear to be focusing on the earnings miss, softer results in metals recycling, and aluminum volumes that ran below internal expectations.

Details:

  • Third-quarter diluted EPS was $5.26 on net sales of $6.5 billion, while record steel shipments reached 3.8 million tons.
  • The prior company outlook had called for third-quarter EPS of $5.34 to $5.38, so the reported result landed below that range.
  • Steel operations remained very strong, helped by higher realized selling prices, lower scrap costs, and wider metal spreads.
  • Offsets included a sequential decline in metals recycling operating income and aluminum shipment volumes that fell short for several weeks because of yield and quality impacts during higher-speed production.

    • Sources:

    Steel Dynamics, MarketBeat, Investing.com

    Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

    $STLD Insider Trading Activity

    STLD Insider Trades

    $STLD insiders have traded $STLD stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.

    Here’s a breakdown of recent trading of $STLD stock by insiders over the last 6 months:

    • JAMES STANLEY ANDERSON (Senior Vice President) has made 0 purchases and 4 sales selling 10,000 shares for an estimated $2,687,030.
    • CHRISTOPHER A GRAHAM (Senior Vice President) has made 0 purchases and 3 sales selling 9,000 shares for an estimated $2,131,290.
    • KENNETH W. CORNEW has made 0 purchases and 2 sales selling 5,000 shares for an estimated $1,124,358.
    • MIGUEL ALVAREZ (Senior Vice President) has made 0 purchases and 3 sales selling 4,825 shares for an estimated $1,088,427.
    • RICHARD A POINSATTE (Senior Vice President) sold 2,300 shares for an estimated $538,453

    To track insider transactions, check out Investivoq's insider trading dashboard. You can access data on insider stock transactions through the Investivoq API insider transaction endpoint.

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    $STLD Hedge Fund Activity

    We have seen 487 institutional investors add shares of $STLD stock to their portfolio, and 416 decrease their positions in their most recent quarter.

    Here are some of the largest recent moves:

    • FMR LLC added 3,309,313 shares (+75.0%) to their portfolio in Q2 2026, for an estimated $759,354,960
    • JPMORGAN CHASE & CO added 1,707,322 shares (+inf%) to their portfolio in Q2 2026, for an estimated $391,762,106
    • SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 1,452,235 shares (+inf%) to their portfolio in Q2 2026, for an estimated $333,229,843
    • NORGES BANK removed 855,570 shares (-25.7%) from their portfolio in Q2 2026, for an estimated $196,319,092
    • VICTORY CAPITAL MANAGEMENT INC removed 784,700 shares (-36.8%) from their portfolio in Q2 2026, for an estimated $180,057,262
    • HOLOCENE ADVISORS, LP removed 640,195 shares (-28.0%) from their portfolio in Q2 2026, for an estimated $146,899,144
    • HSBC HOLDINGS PLC removed 424,143 shares (-40.3%) from their portfolio in Q2 2026, for an estimated $97,323,852

    To track hedge funds' stock portfolios, check out Investivoq's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Investivoq API 13F endpoint.

    $STLD Price Targets

    Multiple analysts have issued price targets for $STLD recently. We have seen 5 analysts offer price targets for $STLD in the last 6 months, with a median target of $262.0.

    Here are some recent targets:

    • Lawson Winder from B of A Securities set a target price of $260.0 on 07/09/2026
    • Samuel McKinney from Keybanc set a target price of $262.0 on 06/24/2026
    • Carlos De Alba from Morgan Stanley set a target price of $270.0 on 06/22/2026
    • Timna Tanners from Wells Fargo set a target price of $291.0 on 06/18/2026
    • Bill Peterson from JP Morgan set a target price of $262.0 on 06/10/2026

    This article is not financial advice. See Investivoq's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.