Steel Dynamics, Inc. (NASDAQ:STLD) Plans Quarterly Dividend of $0.53

Steel Dynamics, Inc. (NASDAQ:STLD) announced a quarterly dividend on Monday, November 9th. Shareholders 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 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, December 31st.

Steel Dynamics has increased its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 13 years. Steel Dynamics has a payout ratio of 17.2% indicating that 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 Stock Performance

NASDAQ STLD opened at $227.56 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 3.14 and a debt-to-equity ratio of 0.43. The company 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 12-month low of $150.22 and a 12-month high of $288.74. The firm has a 50-day moving average price of $238.23 and a two-hundred day moving average price of $225.13.

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

Insiders Place Their Bets

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

Institutional Trading of Steel Dynamics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Edgestream Partners L.P. acquired a new position in Steel Dynamics in the 3rd quarter worth about $5,016,000. Intech Investment Management LLC increased its stake in shares of Steel Dynamics by 15.9% in 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 period. Bessemer Group Inc. increased its stake in shares of Steel Dynamics by 0.7% in 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 period. Hantz Financial Services Inc. raised its holdings in Steel Dynamics by 17.7% in the 3rd 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 position in Steel Dynamics in the 3rd quarter valued at approximately $33,000. Institutional investors own 82.41% of the company’s stock.

About Steel Dynamics

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.