Nucor Co. (NYSE:NUE) declared a quarterly dividend on Tuesday, February 20th, RTT News reports. Shareholders of record on Thursday, March 29th will be given a dividend of 0.38 per share by the basic materials company on Friday, May 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.23%.
Nucor has raised its dividend payment by an average of 0.7% annually over the last three years and has increased its dividend every year for the last 44 years. Nucor has a dividend payout ratio of 42.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nucor to earn $5.31 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 28.6%.
Shares of Nucor (NUE) traded down $0.47 during trading on Tuesday, hitting $68.07. The stock had a trading volume of 1,961,250 shares, compared to its average volume of 3,202,429. Nucor has a 1 year low of $51.67 and a 1 year high of $70.48. The stock has a market cap of $21,790.01, a price-to-earnings ratio of 16.55, a PEG ratio of 1.17 and a beta of 1.56. The company has a current ratio of 2.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.
Nucor (NYSE:NUE) last posted its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.10. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.86 billion. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The firm’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 EPS. equities analysts forecast that Nucor will post 4.87 EPS for the current fiscal year.
In other news, EVP Robert J. Stratman sold 39,037 shares of Nucor stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the completion of the sale, the executive vice president now owns 233,824 shares in the company, valued at approximately $14,936,677.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman John J. Ferriola sold 14,313 shares of Nucor stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $64.12, for a total value of $917,749.56. Following the sale, the chairman now owns 333,775 shares of the company’s stock, valued at approximately $21,401,653. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded Nucor from a “hold” rating to a “strong-buy” rating and set a $73.00 price target for the company in a research note on Tuesday, February 13th. Morgan Stanley cut their price target on Nucor from $70.00 to $68.00 and set a “hold” rating for the company in a research note on Tuesday, February 6th. Jefferies Group reiterated a “buy” rating and set a $76.00 price target on shares of Nucor in a research note on Wednesday, January 31st. BMO Capital Markets increased their price target on Nucor to $72.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 31st. They noted that the move was a valuation call. Finally, Credit Suisse Group increased their price target on Nucor from $67.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $69.70.
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Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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