Steel Dynamics, Inc. (NASDAQ:STLD) Shares Will Pay Quarterly Dividend of $0.53

Steel Dynamics, Inc. (NASDAQ:STLD) announced a quarterly dividend on Monday, November 9th. Investors of record on Thursday, December 31st will be paid a dividend of $0.53 per share by the basic materials company on Friday, January 8th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, December 31st.

Steel Dynamics has increased its dividend payment by an average of 0.1% per year 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. Analysts expect Steel Dynamics to earn $23.49 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 9.0%.

Steel Dynamics Price Performance

NASDAQ STLD opened at $227.56 on Tuesday. The stock has a market capitalization of $32.36 billion, a P/E ratio of 16.79, a P/E/G ratio of 0.34 and a beta of 1.45. Steel Dynamics has a 1 year low of $150.22 and a 1 year high of $288.74. The business’s fifty day moving average is $238.23 and its two-hundred day moving average is $225.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 3.14.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Monday, October 19th. The basic materials company reported $5.26 EPS for the quarter, missing analysts’ consensus estimates of $5.48 by ($0.22). The company had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.43 billion. Steel Dynamics had a net margin of 8.82% and a return on equity of 21.57%. Steel Dynamics’s revenue was up 34.8% on a year-over-year basis. During the same quarter last year, the company posted $2.74 EPS. On average, research analysts forecast that Steel Dynamics will post 18.12 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Barry Schneider sold 50,000 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $248.91, for a total transaction of $12,445,500.00. Following the transaction, the executive vice president owned 196,399 shares of the company’s stock, valued at approximately $48,885,675.09. This represents a 20.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Steel Dynamics

Several hedge funds and other institutional investors have recently made changes to their positions in STLD. Edgestream Partners L.P. acquired a new stake in Steel Dynamics in the 3rd quarter valued at approximately $5,016,000. Intech Investment Management LLC raised its position in shares of Steel Dynamics by 15.9% during the third quarter. Intech Investment Management LLC now owns 8,286 shares of the basic materials company’s stock valued at $1,836,000 after buying an additional 1,138 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Steel Dynamics by 0.7% during the third quarter. Bessemer Group Inc. now owns 546,702 shares of the basic materials company’s stock valued at $121,155,000 after buying an additional 3,851 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of Steel Dynamics by 17.7% during the third quarter. Hantz Financial Services Inc. now owns 3,456 shares of the basic materials company’s stock valued at $766,000 after buying an additional 520 shares during the last quarter. Finally, IFG Advisory LLC bought a new stake in shares of Steel Dynamics in the third quarter valued at about $33,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based steel producer and metals recycler founded in 1993. The company operates electric-arc-furnace steel mills and produces flat-rolled, structural, engineered bar, merchant bar and rail products for customers across a range of industries.

Its businesses also include metals recycling, steel fabrication and aluminum operations. Through these activities, Steel Dynamics collects and processes scrap metal, manufactures steel components and supplies products used in construction, automotive manufacturing, energy and other markets.

Headquartered in Fort Wayne, Indiana, the company serves customers primarily in the United States and Mexico.