Steel Dynamics, Inc. (NASDAQ:STLD) to Issue Quarterly Dividend of $0.50

Steel Dynamics, Inc. (NASDAQ:STLD) announced a quarterly dividend on Friday, November 7th. Investors of record on Wednesday, December 31st will be paid a dividend of 0.50 per share by the basic materials company on Friday, January 9th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, December 31st.

Steel Dynamics has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Steel Dynamics has a dividend payout ratio of 16.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Steel Dynamics to earn $12.10 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 16.5%.

Steel Dynamics Stock Performance

Shares of STLD opened at $175.46 on Monday. Steel Dynamics has a 12-month low of $103.17 and a 12-month high of $178.36. The stock has a market cap of $25.62 billion, a P/E ratio of 23.24, a PEG ratio of 1.19 and a beta of 1.46. The company has a current ratio of 3.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $162.36 and a two-hundred day moving average of $143.28.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the company posted $2.05 EPS. The company’s revenue was up 11.2% on a year-over-year basis. As a group, research analysts predict that Steel Dynamics will post 9.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of Steel Dynamics stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total value of $1,343,180.29. Following the transaction, the senior vice president owned 117,068 shares in the company, valued at $19,057,499.72. This trade represents a 6.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Steel Dynamics

Several institutional investors have recently bought and sold shares of STLD. Ieq Capital LLC purchased a new position in shares of Steel Dynamics during the 1st quarter valued at approximately $867,000. WPG Advisers LLC bought a new position in Steel Dynamics during the 1st quarter valued at $32,000. Vident Advisory LLC grew its holdings in Steel Dynamics by 17.8% during the 1st quarter. Vident Advisory LLC now owns 9,201 shares of the basic materials company’s stock worth $1,151,000 after acquiring an additional 1,387 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Steel Dynamics by 66.9% in the 1st quarter. Panagora Asset Management Inc. now owns 26,817 shares of the basic materials company’s stock worth $3,354,000 after purchasing an additional 10,746 shares during the last quarter. Finally, DRW Securities LLC increased its position in shares of Steel Dynamics by 1,733.1% in the 1st quarter. DRW Securities LLC now owns 36,203 shares of the basic materials company’s stock worth $4,528,000 after purchasing an additional 34,228 shares during the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

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.