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

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

Steel Dynamics has raised its dividend by an average of 19.4% annually over the last three years and has raised its dividend every year for the last 12 years. Steel Dynamics has a payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. Steel Dynamics has a twelve month low of $98.25 and a twelve month high of $151.34. The company’s 50-day moving average price is $119.47 and its 200-day moving average price is $128.77. The stock has a market cap of $19.44 billion, a price-to-earnings ratio of 8.65 and a beta of 1.32.

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

Wall Street Analyst Weigh In

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

About Steel Dynamics

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.