Nucor Co. (NYSE:NUE) announced a quarterly dividend on Thursday, June 6th, RTT News reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.40 per share by the basic materials company on Friday, August 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Thursday, June 27th.
Nucor has increased its dividend payment 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 payout ratio of 20.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Nucor to earn $4.60 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 34.8%.
Shares of Nucor stock opened at $54.29 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.64 and a current ratio of 3.37. The company’s 50-day simple moving average is $52.47. Nucor has a twelve month low of $47.13 and a twelve month high of $68.84. The firm has a market cap of $16.38 billion, a price-to-earnings ratio of 7.12, a P/E/G ratio of 0.86 and a beta of 1.54.
A number of equities analysts have commented on the stock. Longbow Research lowered shares of Nucor from a “buy” rating to a “neutral” rating in a research report on Monday, March 11th. Standpoint Research upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. KeyCorp reduced their price target on shares of Nucor from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. UBS Group set a $59.00 price target on shares of Nucor and gave the company a “hold” rating in a research report on Wednesday, May 8th. Finally, Goldman Sachs Group reduced their price target on shares of Nucor from $70.00 to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Nucor presently has a consensus rating of “Hold” and an average target price of $64.80.
In other Nucor news, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $58.28, for a total value of $582,800.00. Following the completion of the transaction, the insider now directly owns 96,778 shares of the company’s stock, valued at $5,640,221.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman John J. Ferriola sold 65,061 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $56.20, for a total transaction of $3,656,428.20. Following the completion of the transaction, the chairman now directly owns 403,735 shares of the company’s stock, valued at $22,689,907. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,314 shares of company stock valued at $4,310,637. Insiders own 0.96% of the company’s stock.
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.
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