Nucor Co. (NUE) to Issue Quarterly Dividend of $0.54 on November 8th

Nucor Co. (NYSE:NUE) declared a quarterly dividend on Thursday, September 12th, RTT News reports. Shareholders of record on Friday, September 27th will be paid a dividend of 0.54 per share by the basic materials company on Friday, November 8th. This represents a $2.16 annualized dividend and a yield of 1.43%. The ex-dividend date is Friday, September 27th.

Nucor has increased its dividend payment by an average of 8.7% annually over the last three years and has increased its dividend every year for the last 51 years. Nucor has a dividend payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Nucor to earn $11.73 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 18.4%.

Nucor Trading Up 2.5 %

NYSE NUE opened at $150.68 on Wednesday. The firm’s fifty day moving average price is $148.99 and its 200 day moving average price is $165.36. Nucor has a 12 month low of $133.42 and a 12 month high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. The company has a market capitalization of $35.76 billion, a price-to-earnings ratio of 8.86 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter last year, the company posted $5.81 earnings per share. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, sell-side analysts expect that Nucor will post 9.28 earnings per share for the current fiscal year.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at $15,847,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America decreased their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Morgan Stanley lowered their price objective on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. BMO Capital Markets reduced their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. raised Nucor from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $170.00 to $174.00 in a report on Monday, September 9th. Finally, Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and an average price target of $192.00.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.