Steel Dynamics, Inc. (STLD) to Issue Quarterly Dividend of $0.53 on July 10th

Steel Dynamics, Inc. (NASDAQ:STLD) announced a quarterly dividend on Thursday, May 7th. Investors 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) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th.

Steel Dynamics has raised its dividend 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. Equities analysts expect Steel Dynamics to earn $19.25 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 11.0%.

Steel Dynamics Trading Down 2.2%

Shares of STLD stock opened at $245.49 on Friday. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. Steel Dynamics has a fifty-two week low of $119.89 and a fifty-two week high of $288.74. The firm’s 50 day moving average price is $244.38 and its two-hundred day moving average price is $202.86. The stock has a market cap of $35.53 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 0.48 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the business posted $1.44 EPS. The business’s revenue was up 19.1% on a year-over-year basis. On average, analysts anticipate that Steel Dynamics will post 16.78 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on STLD. BMO Capital Markets boosted their price target on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Jefferies Financial Group reissued a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, Wells Fargo & Company dropped their price target on shares of Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $236.36.

About Steel Dynamics

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.