Nucor Corporation (NUE) to Issue Quarterly Dividend of $0.56 on May 11th

Nucor Corporation (NYSE:NUE) declared a quarterly dividend on Friday, February 20th. Shareholders of record on Tuesday, March 31st will be given a dividend of 0.56 per share by the basic materials company on Monday, May 11th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, March 31st.

Nucor has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 52 years. Nucor has a dividend payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nucor to earn $10.99 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 20.4%.

Nucor Stock Performance

Shares of Nucor stock opened at $163.48 on Friday. Nucor has a 12 month low of $97.59 and a 12 month high of $196.90. The firm has a market capitalization of $37.23 billion, a P/E ratio of 21.68, a P/E/G ratio of 0.59 and a beta of 1.83. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $175.87 and a two-hundred day simple moving average of $159.62.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The business had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.22 earnings per share. On average, equities analysts forecast that Nucor will post 7.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NUE. Wall Street Zen raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group raised Nucor from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $184.00 to $190.00 in a research report on Thursday. BMO Capital Markets upped their price target on Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. KeyCorp initiated coverage on Nucor in a research report on Wednesday. They set a “sector weight” rating for the company. Finally, Jefferies Financial Group lifted their price objective on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $188.90.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.