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Steel Dynamics, Inc. (NASDAQ:STLD - Get Rating) announced a quarterly dividend on Monday, August 22nd, RTT News reports. Shareholders of record on Friday, September 30th will be given a dividend of 0.34 per share by the basic materials company on Friday, October 14th. This represents a $1.36 dividend on an annualized basis and a yield of 1.70%.
Steel Dynamics has raised its dividend payment by an average of 11.5% per year over the last three years and has increased its dividend every year for the last 10 years. Steel Dynamics has a dividend payout ratio of 13.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Steel Dynamics to earn $9.52 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 14.3%. Steel Dynamics Stock Performance
Steel Dynamics stock traded down $1.61 during mid-day trading on Monday, reaching $80.19. 8,850 shares of the company were exchanged, compared to its average volume of 2,203,348. Steel Dynamics has a twelve month low of $50.54 and a twelve month high of $100.37. The firm's 50-day simple moving average is $72.32 and its two-hundred day simple moving average is $76.29. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.87 and a current ratio of 3.52. The firm has a market cap of $14.64 billion, a PE ratio of 3.64 and a beta of 1.41.
Steel Dynamics (NASDAQ:STLD - Get Rating) last posted its quarterly earnings data on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share for the quarter, topping analysts' consensus estimates of $6.34 by $0.39. The company had revenue of $6.21 billion during the quarter, compared to analysts' expectations of $5.93 billion. Steel Dynamics had a return on equity of 71.50% and a net margin of 19.81%. The firm's revenue for the quarter was up 39.1% on a year-over-year basis. During the same period last year, the firm earned $3.40 EPS. Equities analysts predict that Steel Dynamics will post 21.07 earnings per share for the current fiscal year. Analyst Ratings Changes
A number of equities analysts have recently issued reports on STLD shares. UBS Group set a $95.00 target price on Steel Dynamics in a research note on Monday, June 20th. JPMorgan Chase & Co. cut their target price on Steel Dynamics from $129.00 to $110.00 in a research note on Tuesday, June 14th. Morgan Stanley cut their target price on Steel Dynamics from $94.00 to $78.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 6th. Finally, The Goldman Sachs Group downgraded Steel Dynamics from a "buy" rating to a "neutral" rating and cut their target price for the stock from $114.00 to $92.00 in a research note on Tuesday, May 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Steel Dynamics has a consensus rating of "Moderate Buy" and a consensus price target of $89.00.Insider Buying and Selling at Steel Dynamics
In other Steel Dynamics news, Director Keith E. Busse sold 5,040 shares of the stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $83.51, for a total transaction of $420,890.40. Following the sale, the director now owns 724,034 shares in the company, valued at approximately $60,464,079.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.40% of the stock is owned by insiders. Institutional Investors Weigh In On Steel Dynamics
A number of large investors have recently bought and sold shares of STLD. Mather Group LLC. acquired a new stake in shares of Steel Dynamics during the first quarter worth $209,000. Atlas Capital Advisors LLC acquired a new stake in shares of Steel Dynamics during the second quarter worth $232,000. XTX Topco Ltd acquired a new stake in shares of Steel Dynamics during the first quarter worth $258,000. Lido Advisors LLC acquired a new stake in shares of Steel Dynamics during the first quarter worth $261,000. Finally, Evercore Wealth Management LLC acquired a new position in Steel Dynamics in the first quarter valued at $341,000. Institutional investors and hedge funds own 83.19% of the company's stock. About Steel Dynamics (Get Rating)
Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.Recommended StoriesGet a free copy of the StockNews.com research report on Steel Dynamics (STLD)Oil Services: Who Will Lead The Rebound?Analog Devices Reveals Semiconductor Demand Problems Three Ways To Find Hot Stocks In A Tepid Market Here are the Multiple Stages of a Bear Market3 August Earnings Reports With 'Wow' Potential
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