Steel Dynamics, Inc. (STLD) To Go Ex-Dividend on September 30th

Steel Dynamics, Inc. (NASDAQ:STLD) declared a quarterly dividend on Friday, August 16th, RTT News reports. Investors of record on Monday, September 30th will be paid a dividend of 0.46 per share by the basic materials company on Friday, October 11th. This represents a $1.84 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, September 30th.

Steel Dynamics has raised its dividend payment by an average of 19.4% per year over the last three years and has increased its dividend every year for the last 12 years. Steel Dynamics has a payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Steel Dynamics to earn $10.37 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 17.7%.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $125.98 on Friday. The firm has a market cap of $19.44 billion, a P/E ratio of 8.65 and a beta of 1.32. The business’s 50 day moving average is $119.47 and its 200-day moving average is $128.79. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. Steel Dynamics has a 1-year low of $98.25 and a 1-year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.67 by $0.05. The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. Steel Dynamics’s revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.81 earnings per share. Equities research analysts predict that Steel Dynamics will post 10.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. raised Steel Dynamics from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $120.00 to $131.00 in a research note on Monday, September 9th. Bank of America decreased their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. BMO Capital Markets decreased their target price on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a research report on Tuesday, September 17th. Morgan Stanley dropped their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Finally, UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $141.29.

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.