Steel Dynamics, Inc. (NASDAQ:STLD – Get Free Report) 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.
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.
View Our Latest Report on STLD
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.
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