Steel Dynamics, Inc. (STLD) to Issue Quarterly Dividend of $0.53 on January 8th

Steel Dynamics, Inc. (NASDAQ:STLD) announced a quarterly dividend on Monday, November 9th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.53 per share by the basic materials company on Friday, January 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, December 31st.

Steel Dynamics has raised its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Steel Dynamics has a dividend payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Steel Dynamics to earn $23.49 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 9.0%.

Steel Dynamics Stock Performance

Shares of STLD opened at $236.12 on Wednesday. The stock has a market capitalization of $33.58 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.32 and a beta of 1.45. Steel Dynamics has a 12 month low of $151.21 and a 12 month high of $288.74. The firm has a fifty day simple moving average of $238.30 and a 200 day simple moving average of $225.42. The company has a current ratio of 3.14, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, October 20th. The basic materials company reported $5.26 EPS for the quarter, missing the consensus estimate of $5.48 by ($0.22). Steel Dynamics had a return on equity of 21.57% and a net margin of 8.82%. The business had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same period last year, the firm earned $2.74 earnings per share. The company’s quarterly revenue was up 34.8% compared to the same quarter last year. Research analysts forecast that Steel Dynamics will post 18.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. BNP Paribas Exane upped their price objective on Steel Dynamics from $275.00 to $276.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. KeyCorp upped their price target on shares of Steel Dynamics from $262.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Weiss Ratings raised shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 28th. JPMorgan Chase & Co. lowered their price objective on shares of Steel Dynamics from $272.00 to $260.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. Finally, Barclays set a $280.00 target price on shares of Steel Dynamics in a report on Friday, October 23rd. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.17.

About Steel Dynamics

Steel Dynamics, Inc. is a U.S.-based steel producer and metals recycler founded in 1993. The company operates electric-arc-furnace steel mills and produces flat-rolled, structural, engineered bar, merchant bar and rail products for customers across a range of industries. Its businesses also include metals recycling, steel fabrication and aluminum operations. Through these activities, Steel Dynamics collects and processes scrap metal, manufactures steel components and supplies products used in construction, automotive manufacturing, energy and other markets.