Steel Dynamics, Inc. (NASDAQ:STLD) Plans Quarterly Dividend of $0.53

Steel Dynamics, Inc. (NASDAQ:STLD) announced a quarterly dividend on Thursday, May 7th. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.53 per share by the basic materials company on Friday, July 10th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th.

Steel Dynamics has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 13 years. Steel Dynamics has a dividend payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Steel Dynamics to earn $16.89 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 12.6%.

Steel Dynamics Trading Down 3.7%

NASDAQ STLD traded down $8.93 during trading on Thursday, hitting $232.92. 1,142,217 shares of the company’s stock traded hands, compared to its average volume of 1,271,490. The stock has a fifty day moving average of $192.41 and a two-hundred day moving average of $178.55. Steel Dynamics has a 12-month low of $119.89 and a 12-month high of $243.73. The firm has a market cap of $33.59 billion, a P/E ratio of 24.91, a PEG ratio of 0.51 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the prior year, the firm posted $1.44 EPS. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. As a group, sell-side analysts expect that Steel Dynamics will post 14.77 EPS for the current year.

Wall Street Analyst Weigh In

STLD has been the topic of a number of analyst reports. KeyCorp lifted their price target on Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Bank of America downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 target price on the stock. in a research note on Thursday, April 30th. Finally, Wells Fargo & Company upped their price target on shares of Steel Dynamics from $207.00 to $235.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $214.30.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.