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

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 given 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of STLD stock opened at $125.98 on Friday. Steel Dynamics has a 52-week low of $98.25 and a 52-week high of $151.34. 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 stock has a market cap of $19.44 billion, a PE ratio of 8.65 and a beta of 1.32. The business has a 50-day simple moving average of $119.47 and a 200-day simple moving average of $128.77.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.67 by $0.05. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.81 EPS. On average, equities analysts expect that Steel Dynamics will post 10.32 EPS for the current year.

Analysts Set New Price Targets

STLD has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price objective on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a report on Tuesday, September 17th. JPMorgan Chase & Co. raised Steel Dynamics from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $120.00 to $131.00 in a report on Monday, September 9th. Bank of America dropped their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, Morgan Stanley decreased their target price on 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. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and a consensus price target 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.