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

Steel Dynamics, Inc. (NASDAQ:STLD) declared a quarterly dividend on Thursday, August 14th, RTT News reports. Investors of record on Tuesday, September 30th will be paid a dividend of 0.50 per share by the basic materials company on Friday, October 10th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th.

Steel Dynamics has a payout ratio of 16.2% meaning 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 Up 2.6%

STLD opened at $139.63 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. The stock has a market capitalization of $20.55 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.14 and a beta of 1.40. The business has a 50-day moving average of $130.48 and a two-hundred day moving average of $128.78. Steel Dynamics has a 12 month low of $103.17 and a 12 month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.04). The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.72 EPS. On average, research analysts expect that Steel Dynamics will post 9.01 earnings per share for the current year.

Insider Activity

In related news, SVP Christopher A. Graham sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the sale, the senior vice president directly owned 66,738 shares of the company’s stock, valued at approximately $8,456,371.98. This represents a 15.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Steel Dynamics

Several institutional investors and hedge funds have recently made changes to their positions in STLD. Financial Gravity Asset Management Inc. acquired a new stake in shares of Steel Dynamics during the 1st quarter valued at approximately $25,000. Cary Street Partners Investment Advisory LLC lifted its stake in Steel Dynamics by 493.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock valued at $25,000 after buying an additional 163 shares during the last quarter. Trust Co. of Toledo NA OH bought a new stake in Steel Dynamics in the second quarter valued at $30,000. Zions Bancorporation National Association UT bought a new stake in Steel Dynamics in the first quarter valued at $32,000. Finally, WPG Advisers LLC bought a new stake in Steel Dynamics in the first quarter valued at $32,000. 82.41% of the stock is owned by institutional investors and hedge funds.

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.