Nucor Co. (NYSE:NUE - Get Free Report) declared a quarterly dividend on Tuesday, June 10th, RTT News reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.55 per share by the basic materials company on Monday, August 11th. This represents a $2.20 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, June 30th.
Nucor has a payout ratio of 20.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nucor to earn $10.99 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 20.0%.
Nucor Price Performance
Nucor stock traded down $7.51 during trading hours on Wednesday, reaching $117.17. 3,614,355 shares of the stock were exchanged, compared to its average volume of 2,198,721. The stock has a 50 day moving average of $114.06 and a two-hundred day moving average of $124.31. The company has a market cap of $27.04 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 0.96 and a beta of 1.68. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. Nucor has a twelve month low of $97.59 and a twelve month high of $170.52.
Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). The business had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. Nucor's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.46 earnings per share. Equities analysts expect that Nucor will post 7.64 EPS for the current fiscal year.
Insider Activity at Nucor
In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the sale, the chief executive officer now directly owns 162,993 shares in the company, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Nucor
Institutional investors and hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its stake in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock worth $41,000 after acquiring an additional 153 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Nucor during the first quarter valued at about $259,000. Finally, Integrated Wealth Concepts LLC boosted its position in shares of Nucor by 21.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company's stock worth $393,000 after purchasing an additional 568 shares in the last quarter. Institutional investors own 76.48% of the company's stock.
Wall Street Analyst Weigh In
NUE has been the topic of a number of research analyst reports. Morgan Stanley set a $164.00 price target on shares of Nucor in a research note on Monday, March 24th. Wall Street Zen lowered shares of Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group lowered their price target on shares of Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. Argus set a $155.00 price objective on Nucor in a report on Wednesday, March 5th. Finally, UBS Group reduced their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nucor has an average rating of "Moderate Buy" and a consensus target price of $157.22.
Read Our Latest Report on Nucor
About Nucor
(
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Nucor Corporation engages in manufacture and sale of steel and steel products. 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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.
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