Nucor Corporation to Issue Quarterly Dividend of $0.56 (NYSE:NUE)

Nucor Corporation (NYSE:NUE) announced a quarterly dividend on Tuesday, June 9th. Investors of record on Tuesday, June 30th will be given a dividend of 0.56 per share by the basic materials company on Tuesday, August 11th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th.

Nucor has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 52 years. Nucor has a dividend payout ratio of 20.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nucor to earn $16.87 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 13.3%.

Nucor Stock Performance

Nucor stock opened at $253.83 on Wednesday. Nucor has a 12-month low of $115.66 and a 12-month high of $264.67. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. The company has a market capitalization of $57.81 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 0.67 and a beta of 1.88. The firm’s fifty day moving average price is $217.20 and its 200 day moving average price is $186.64.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same period last year, the firm earned $0.77 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. On average, research analysts forecast that Nucor will post 14.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NUE. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $190.00 to $224.00 in a research note on Tuesday, April 28th. KeyCorp assumed coverage on shares of Nucor in a report on Wednesday, March 25th. They set a “sector weight” rating for the company. Jefferies Financial Group boosted their target price on shares of Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Seaport Research Partners restated a “buy” rating and issued a $245.00 target price on shares of Nucor in a research note on Thursday, April 30th. Finally, Barclays started coverage on shares of Nucor in a research report on Thursday, May 21st. They set an “overweight” rating and a $270.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $255.67.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.