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

Steel Dynamics, Inc. (NASDAQ:STLD) declared a quarterly dividend on Friday, November 8th,RTT News reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.46 per share by the basic materials company on Friday, January 10th. This represents a $1.84 annualized dividend and a dividend yield of 1.24%.

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 dividend payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Steel Dynamics to earn $10.33 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 17.8%.

Steel Dynamics Price Performance

Shares of STLD stock opened at $148.55 on Friday. The firm’s 50-day moving average is $126.13 and its two-hundred day moving average is $126.75. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a market capitalization of $22.92 billion, a PE ratio of 13.44 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. Steel Dynamics’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.47 earnings per share. Analysts predict that Steel Dynamics will post 10.18 earnings per share for the current year.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Chad Bickford sold 2,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the sale, the vice president now directly owns 17,100 shares of the company’s stock, valued at $2,306,106. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on STLD shares. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley decreased their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Finally, BMO Capital Markets upped their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $144.29.

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.