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.
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.
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.
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