Steel Dynamics, Inc. (NASDAQ:STLD) Plans $0.46 Quarterly Dividend

Steel Dynamics, Inc. (NASDAQ:STLD) announced a quarterly dividend on Friday, August 16th, RTT News reports. Investors of record on Monday, September 30th will be given a dividend of 0.46 per share by the basic materials company on Friday, October 11th. This represents a $1.84 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, September 30th.

Steel Dynamics has increased its dividend payment by an average of 19.4% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Steel Dynamics has a payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Steel Dynamics to earn $10.37 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 17.7%.

Steel Dynamics Trading Up 0.6 %

Shares of STLD stock opened at $125.98 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. The firm has a market cap of $19.44 billion, a P/E ratio of 8.65 and a beta of 1.32. The company has a 50 day moving average of $119.47 and a 200-day moving average of $128.79. Steel Dynamics has a 12-month low of $98.25 and a 12-month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the business posted $4.81 earnings per share. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. Sell-side analysts anticipate that Steel Dynamics will post 10.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on STLD. Morgan Stanley dropped their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $120.00 to $131.00 in a report on Monday, September 9th. Bank of America dropped their target price on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Finally, BMO Capital Markets decreased their price objective on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a research note on Tuesday, September 17th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $141.29.

Steel Dynamics Company Profile

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.