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