Nucor Co. (NYSE:NUE) Declares Quarterly Dividend of $0.40

Nucor Co. (NYSE:NUE) announced a quarterly dividend on Thursday, September 5th, RTT News reports. Stockholders of record on Friday, September 27th will be given a dividend of 0.40 per share by the basic materials company on Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 3.18%.

Nucor has increased its dividend by an average of 0.7% per year over the last three years and has increased its dividend every year for the last 45 years. Nucor has a dividend payout ratio of 20.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Nucor to earn $4.43 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 36.1%.

Shares of Nucor stock traded up $1.05 on Thursday, hitting $50.35. 1,746,436 shares of the company traded hands, compared to its average volume of 2,356,268. The stock has a market capitalization of $14.72 billion, a P/E ratio of 6.61, a price-to-earnings-growth ratio of 0.84 and a beta of 1.62. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.76 and a current ratio of 3.56. Nucor has a 52 week low of $46.10 and a 52 week high of $66.03. The business has a 50-day simple moving average of $51.40 and a 200 day simple moving average of $54.92.



Nucor (NYSE:NUE) last released its quarterly earnings data on Thursday, July 18th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6 billion. Nucor had a net margin of 8.84% and a return on equity of 21.65%. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 earnings per share. Research analysts expect that Nucor will post 4.82 earnings per share for the current year.

Several research firms have recently issued reports on NUE. Credit Suisse Group set a $61.00 price objective on shares of Nucor and gave the company a “buy” rating in a research report on Friday, July 19th. Citigroup set a $60.00 price objective on shares of Nucor and gave the company a “buy” rating in a research report on Tuesday, June 11th. Bank of America reduced their price objective on shares of Nucor from $50.00 to $46.00 and set an “underperform” rating on the stock in a research report on Wednesday. KeyCorp reduced their price objective on shares of Nucor from $61.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Finally, ValuEngine cut shares of Nucor from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. Nucor presently has an average rating of “Hold” and a consensus price target of $62.40.

In related news, EVP Leon J. Topalian sold 5,798 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $56.47, for a total value of $327,413.06. Following the sale, the executive vice president now owns 93,559 shares in the company, valued at $5,283,276.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John J. Ferriola sold 19,193 shares of Nucor stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $56.37, for a total transaction of $1,081,909.41. Following the transaction, the chairman now directly owns 475,921 shares of the company’s stock, valued at $26,827,666.77. The disclosure for this sale can be found here. Insiders sold 61,203 shares of company stock worth $3,465,601 in the last 90 days. 0.96% of the stock is currently owned by company insiders.

Nucor Company Profile

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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

Further Reading: What is a Derivative?

Dividend History for Nucor (NYSE:NUE)

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