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

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

Steel Dynamics has increased its dividend payment by an average of 0.1%annually over the last three years and has increased 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. Equities 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 Stock Performance

Shares of NASDAQ:STLD traded down $8.93 during midday trading on Thursday, reaching $232.92. 1,142,217 shares of the company traded hands, compared to its average volume of 1,271,490. The firm's fifty day moving average price is $192.41 and its two-hundred day moving average price is $178.55. The firm has a market capitalization of $33.59 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 0.51 and a beta of 1.48. 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 12 month low of $119.89 and a 12 month high of $243.73.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results 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 the consensus estimate of $5.39 billion. During the same quarter in the prior year, the business earned $1.44 EPS. The firm's revenue for the quarter was up 19.1% compared to the same quarter last year. On average, equities analysts expect that Steel Dynamics will post 14.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Miguel Alvarez sold 4,825 shares of Steel Dynamics stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the sale, the senior vice president directly owned 122,257 shares of the company's stock, valued at approximately $27,578,734.06. The trade was a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth W. Cornew sold 5,000 shares of the company's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the transaction, the director owned 31,299 shares of the company's stock, valued at $7,038,206.13. This trade represents a 13.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Steel Dynamics

Hedge funds have recently added to or reduced their stakes in the company. Prosperity Bancshares Inc purchased a new stake in Steel Dynamics in the fourth quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its stake in shares of Steel Dynamics by 1,636.4% during the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company's stock worth $27,000 after acquiring an additional 180 shares in the last quarter. MV Capital Management Inc. purchased a new position in shares of Steel Dynamics during the fourth quarter worth approximately $27,000. Sound Income Strategies LLC lifted its holdings in shares of Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company's stock worth $28,000 after acquiring an additional 150 shares during the last quarter. Finally, Cedar Mountain Advisors LLC bought a new stake in shares of Steel Dynamics in the 1st quarter worth approximately $31,000. Institutional investors own 82.41% of the company's stock.

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.

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