Steel Dynamics, Inc. (STLD) to Issue Quarterly Dividend of $0.50 on January 9th

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) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, December 31st.

Steel Dynamics has raised 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 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 Price Performance

Shares of NASDAQ STLD opened at $173.15 on Monday. The company has a market capitalization of $25.29 billion, a PE ratio of 22.89, a PEG ratio of 1.19 and a beta of 1.46. The company has a quick ratio of 1.47, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $162.36 and its 200-day moving average price is $143.28. Steel Dynamics has a twelve month low of $103.17 and a twelve month high of $178.36.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.11. The firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The company’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 earnings per share. On average, equities analysts anticipate that Steel Dynamics will post 9.01 EPS for the current year.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the company’s stock in a transaction dated 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 directly owned 117,068 shares in the company, valued at $19,057,499.72. This represents a 6.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Allworth Financial LP increased its position in Steel Dynamics by 119.3% in the second quarter. Allworth Financial LP now owns 11,012 shares of the basic materials company’s stock worth $1,410,000 after purchasing an additional 5,991 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Steel Dynamics by 21.9% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 88,558 shares of the basic materials company’s stock worth $11,336,000 after purchasing an additional 15,931 shares during the period. Edgestream Partners L.P. lifted its holdings in Steel Dynamics by 477.1% during the second quarter. Edgestream Partners L.P. now owns 32,427 shares of the basic materials company’s stock worth $4,151,000 after buying an additional 26,808 shares during the period. Korea Investment CORP boosted its position in Steel Dynamics by 17.7% during the second quarter. Korea Investment CORP now owns 133,975 shares of the basic materials company’s stock valued at $17,150,000 after purchasing an additional 20,135 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Steel Dynamics by 1.2% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 163,399 shares of the basic materials company’s stock valued at $20,917,000 after purchasing an additional 1,954 shares during the period. Hedge funds and other 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.