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

Nucor Corporation (NYSE:NUE - Get Free Report) announced a quarterly dividend on Friday, February 20th. Stockholders of record on Tuesday, March 31st will be given a dividend of 0.56 per share by the basic materials company on Monday, May 11th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, March 31st.

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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 payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nucor to earn $10.99 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 20.4%.

Nucor Stock Performance

Nucor stock traded down $0.13 on Friday, reaching $179.91. 2,073,418 shares of the stock were exchanged, compared to its average volume of 1,891,792. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average price of $174.25 and a two-hundred day moving average price of $155.31. The stock has a market cap of $41.17 billion, a PE ratio of 23.86, a PEG ratio of 0.66 and a beta of 1.86. Nucor has a twelve month low of $97.59 and a twelve month high of $196.90.

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Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.91 by ($0.18). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period last year, the firm posted $1.22 EPS. The company's revenue was up 8.6% compared to the same quarter last year. Sell-side analysts anticipate that Nucor will post 7.64 EPS for the current year.

Insider Transactions at Nucor

In other Nucor news, EVP Allen C. Behr sold 7,568 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the transaction, the executive vice president owned 67,711 shares of the company's stock, valued at $12,763,523.50. The trade was a 10.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the firm's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the sale, the executive vice president owned 76,628 shares of the company's stock, valued at approximately $15,020,620.56. This represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 34,351 shares of company stock valued at $6,206,158 in the last ninety days. Corporate insiders own 0.46% of the company's stock.

Hedge Funds Weigh In On Nucor

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Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Nucor by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 29,171,068 shares of the basic materials company's stock valued at $3,778,820,000 after purchasing an additional 211,741 shares in the last quarter. State Street Corp grew its position in Nucor by 3.1% during the 2nd quarter. State Street Corp now owns 12,501,779 shares of the basic materials company's stock worth $1,626,321,000 after acquiring an additional 371,911 shares during the last quarter. Berkshire Hathaway Inc acquired a new position in Nucor in the 2nd quarter worth about $856,792,000. Morgan Stanley increased its stake in shares of Nucor by 1.1% in the fourth quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company's stock valued at $628,497,000 after buying an additional 41,728 shares during the period. Finally, Norges Bank bought a new position in Nucor in the 4th quarter valued at approximately $609,002,000. Institutional investors own 76.48% of the company's stock.

About Nucor

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.

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