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

Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) announced a quarterly dividend on Friday, November 8th,RTT News reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.46 per share by the basic materials company on Friday, January 10th. This represents a $1.84 annualized dividend and a yield of 1.24%.

Steel Dynamics has increased 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 18.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Steel Dynamics to earn $10.35 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 17.8%.

Steel Dynamics Stock Up 0.4 %

STLD traded up $0.60 during trading on Friday, reaching $148.55. The stock had a trading volume of 1,073,792 shares, compared to its average volume of 1,272,091. The stock's 50 day moving average is $125.55 and its two-hundred day moving average is $126.72. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $22.92 billion, a price-to-earnings ratio of 13.46 and a beta of 1.31. Steel Dynamics has a one year low of $104.60 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period last year, the company earned $3.47 earnings per share. The company's revenue was down 5.4% on a year-over-year basis. As a group, analysts expect that Steel Dynamics will post 10.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

STLD has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Morgan Stanley cut their price target on Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating for the company in a research note on Wednesday, September 18th. Bank of America upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets boosted their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. Finally, UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $144.29.

Insider Buying and Selling

In related news, VP Chad Bickford sold 2,000 shares of the business's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares of the company's stock, valued at approximately $2,306,106. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Chad Bickford sold 2,000 shares of the business's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares of the company's stock, valued at approximately $2,306,106. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Glenn Pushis sold 17,941 shares of the business's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

About Steel Dynamics

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.