Nucor Co. (NYSE:NUE) declared a quarterly dividend on Thursday, June 7th, RTT News reports. Stockholders of record on Friday, June 29th will be paid a dividend of 0.38 per share by the basic materials company on Friday, August 10th. This represents a $1.52 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, June 28th.
Nucor has increased its dividend by an average of 0.7% annually over the last three years and has increased its dividend annually for the last 44 consecutive years. Nucor has a payout ratio of 42.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nucor to earn $5.89 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 25.8%.
Shares of Nucor opened at $64.12 on Wednesday, according to Marketbeat Ratings. The company has a current ratio of 2.49, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35. Nucor has a 12-month low of $51.67 and a 12-month high of $70.48. The firm has a market cap of $20.19 billion, a PE ratio of 18.27, a PEG ratio of 0.81 and a beta of 1.55.
Nucor (NYSE:NUE) last issued its quarterly earnings results on Thursday, April 19th. The basic materials company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.07. Nucor had a return on equity of 12.94% and a net margin of 6.33%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. research analysts anticipate that Nucor will post 6.49 EPS for the current fiscal year.
Several brokerages have recently issued reports on NUE. Zacks Investment Research lowered Nucor from a “buy” rating to a “hold” rating in a research note on Wednesday, May 30th. Macquarie raised Nucor from a “neutral” rating to an “outperform” rating and set a $75.00 price target on the stock in a research note on Thursday, May 17th. UBS Group began coverage on Nucor in a research note on Tuesday, April 17th. They set a “neutral” rating and a $65.00 price target on the stock. Morgan Stanley upped their price target on Nucor from $68.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 17th. Finally, ValuEngine lowered Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $70.73.
In other Nucor news, insider Leon J. Topalian sold 3,115 shares of the stock in a transaction dated Thursday, June 21st. The stock was sold at an average price of $64.98, for a total value of $202,412.70. Following the completion of the sale, the insider now directly owns 43,370 shares in the company, valued at $2,818,182.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Victoria F. Haynes sold 1,800 shares of the stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $60.91, for a total value of $109,638.00. Following the completion of the sale, the director now owns 28,773 shares of the company’s stock, valued at $1,752,563.43. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates in three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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