Nucor Co. Announces Quarterly Dividend of $0.41 (NYSE:NUE)

Share on StockTwits

Nucor Co. (NYSE:NUE) announced a quarterly dividend on Tuesday, February 23rd, RTT News reports. Stockholders of record on Wednesday, March 31st will be given a dividend of 0.405 per share by the basic materials company on Tuesday, May 11th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.67%.

Nucor has increased its dividend payment by 6.6% over the last three years and has raised its dividend every year for the last 48 years.

NUE stock traded up $0.82 during midday trading on Tuesday, hitting $60.69. 24,663 shares of the company traded hands, compared to its average volume of 2,554,511. The business has a 50 day simple moving average of $54.62 and a 200-day simple moving average of $50.87. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of 43.18, a price-to-earnings-growth ratio of 1.35 and a beta of 1.33. The company has a quick ratio of 2.40, a current ratio of 3.78 and a debt-to-equity ratio of 0.51. Nucor has a twelve month low of $27.52 and a twelve month high of $60.96.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Thursday, January 28th. The basic materials company reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.08. The company had revenue of $5.26 billion during the quarter, compared to analysts’ expectations of $5.45 billion. Nucor had a return on equity of 7.21% and a net margin of 2.15%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. Equities research analysts forecast that Nucor will post 3.22 EPS for the current year.

Several research firms have recently issued reports on NUE. Morgan Stanley began coverage on Nucor in a research report on Wednesday, December 9th. They set an “equal weight” rating and a $60.00 target price for the company. Credit Suisse Group upgraded Nucor from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $48.00 to $63.00 in a research note on Wednesday, February 3rd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $49.90.

In other Nucor news, CEO Leon J. Topalian sold 10,000 shares of Nucor stock in a transaction dated Monday, December 21st. The stock was sold at an average price of $53.88, for a total transaction of $538,800.00. Following the completion of the sale, the chief executive officer now owns 100,577 shares of the company’s stock, valued at $5,419,088.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.39% of the company’s stock.

About Nucor

Nucor Corporation manufactures and sells 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

Featured Story: Are sell-side analysts objective?

Dividend History for Nucor (NYSE:NUE)

Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with's FREE daily email newsletter.