Nucor Co. (NUE) Plans $0.38 Quarterly Dividend

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.

ILLEGAL ACTIVITY WARNING: “Nucor Co. (NUE) Plans $0.38 Quarterly Dividend” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The correct version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/20/nucor-co-nue-plans-0-38-quarterly-dividend.html.

About Nucor

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).

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 MarketBeat.com's FREE daily email newsletter.

Leave a Reply