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Too Much Selling of Top Ranked Dividend Stock STLD

By Dividend Channel Staff, Friday, May 4, 11:39 AM ET
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The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics strong fundamentals and a valuation that looks inexpensive. Steel Dynamics Inc. (NASDAQ:STLD) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.

But making Steel Dynamics Inc. an even more interesting and timely stock to look at, is the fact that in trading on Friday, shares of STLD entered into oversold territory, changing hands as low as $12.10 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of Steel Dynamics Inc., the RSI reading has hit 27.0 by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 48.5. A falling stock price all else being equal creates a better opportunity for dividend investors to capture a higher yield. Indeed, STLD's recent annualized dividend of 0.40/share (currently paid in quarterly installments) works out to an annual yield of 3.18% based upon the recent $12.61 share price.

A bullish investor could look at STLD's 27.0 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on STLD is its dividend history. In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.

STLD Dividend History
Date Div*
03/28/12 0.100
12/28/11 0.100
09/28/11 0.100
06/28/11 0.100
03/29/11 0.100
12/29/10 0.075
09/28/10 0.075
06/28/10 0.075
03/29/10 0.075
12/29/09 0.075
09/28/09 0.075
06/26/09 0.075
03/27/09 0.100
12/29/08 0.100
09/26/08 0.100
06/26/08 0.100
03/27/08 0.050
12/27/07 0.075
09/26/07 0.075
06/27/07 0.075
03/28/07 0.075
12/28/06 0.075
09/27/06 0.075
06/28/06 0.050
03/29/06 0.050
12/28/05 0.025
09/28/05 0.025
06/28/05 0.025
03/29/05 0.025
12/29/04 0.025
09/28/04 0.019
07/22/04 0.019
* Data may be adjusted for splits; we are not responsible for data errors; always verify data with the company.

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According to the ETF Finder at ETF Channel, STLD makes up 3.93% of the Steel ETF (NYSE:SLX) which is trading lower by about 3% on the day Friday.

See what other ETFs contain STLD
See what other stocks are held by SLX

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