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

Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) declared a quarterly dividend on Friday, May 10th, RTT News reports. Shareholders of record on Sunday, June 30th will be paid a dividend of 0.46 per share by the basic materials company on Friday, July 12th. This represents a $1.84 annualized dividend and a yield of 1.36%.

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 payout ratio of 18.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Steel Dynamics to earn $11.30 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 16.3%.

Steel Dynamics Trading Up 0.3 %

Steel Dynamics stock traded up $0.34 during trading hours on Friday, reaching $135.18. 792,465 shares of the company's stock were exchanged, compared to its average volume of 1,193,809. The firm has a market capitalization of $21.35 billion, a PE ratio of 9.26 and a beta of 1.47. The firm's 50 day simple moving average is $138.23 and its 200 day simple moving average is $124.00. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. Steel Dynamics has a twelve month low of $90.55 and a twelve month high of $151.34.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the firm posted $4.01 earnings per share. The company's quarterly revenue was down 4.1% compared to the same quarter last year. Research analysts predict that Steel Dynamics will post 12.76 earnings per share for the current year.

Wall Street Analyst Weigh In

STLD has been the topic of several recent analyst reports. Citigroup increased their target price on Steel Dynamics from $130.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, March 13th. UBS Group reduced their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a "neutral" rating for the company in a research report on Wednesday, January 24th. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an "underweight" rating in a report on Tuesday, April 16th. Finally, BMO Capital Markets lifted their target price on Steel Dynamics from $110.00 to $120.00 and gave the stock a "market perform" rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $121.17.

Steel Dynamics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.