Steel Dynamics, Inc. (NASDAQ:STLD) to Issue $0.25 Quarterly Dividend

Steel Dynamics, Inc. (NASDAQ:STLD) announced a quarterly dividend on Friday, May 22nd, RTT News reports. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.25 per share by the basic materials company on Friday, July 10th. This represents a $1.00 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Monday, June 29th.

Steel Dynamics has a dividend payout ratio of 59.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Steel Dynamics to earn $2.19 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.7%.

Steel Dynamics stock opened at $25.42 on Friday. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 8.31, a P/E/G ratio of 1.14 and a beta of 1.44. The firm has a 50-day moving average of $26.08 and a 200-day moving average of $27.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 4.02 and a quick ratio of 2.42. Steel Dynamics has a one year low of $14.98 and a one year high of $35.78.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Monday, April 20th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.09. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.57 billion. Steel Dynamics had a return on equity of 17.00% and a net margin of 6.39%. Steel Dynamics’s revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 earnings per share. As a group, sell-side analysts expect that Steel Dynamics will post 1.86 earnings per share for the current year.

STLD has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on Steel Dynamics from $24.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, June 19th. BidaskClub upgraded shares of Steel Dynamics from a “strong sell” rating to a “sell” rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Steel Dynamics from $35.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. UBS Group dropped their target price on shares of Steel Dynamics from $43.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Finally, ValuEngine cut Steel Dynamics from a “hold” rating to a “sell” rating in a report on Friday, May 1st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $30.55.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. 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; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Dividend History for Steel Dynamics (NASDAQ:STLD)

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