Nucor Co. (NUE) To Go Ex-Dividend on June 30th

Nucor Co. (NYSE:NUE) announced a quarterly dividend on Tuesday, June 10th, RTT News reports. Investors of record on Monday, June 30th will be given a dividend of 0.55 per share by the basic materials company on Monday, August 11th. This represents a $2.20 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Monday, June 30th.

Nucor has a dividend payout ratio of 20.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Nucor to earn $10.99 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 20.0%.

Nucor Price Performance

NYSE NUE opened at $117.17 on Thursday. Nucor has a fifty-two week low of $97.59 and a fifty-two week high of $170.52. The stock’s 50-day moving average is $114.35 and its two-hundred day moving average is $124.26. The firm has a market cap of $27.04 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 0.96 and a beta of 1.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). The business had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. Nucor’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.46 EPS. On average, analysts anticipate that Nucor will post 7.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

NUE has been the subject of a number of research reports. BMO Capital Markets raised shares of Nucor from a “market perform” rating to an “outperform” rating and increased their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. The Goldman Sachs Group cut their price objective on shares of Nucor from $175.00 to $169.00 and set a “buy” rating for the company in a research report on Monday, April 7th. UBS Group decreased their target price on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Argus set a $155.00 price target on Nucor in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price objective on Nucor from $156.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $157.22.

Insider Transactions at Nucor

In related news, CEO Leon J. Topalian sold 34,238 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total value of $4,115,065.22. Following the sale, the chief executive officer now owns 162,993 shares of the company’s stock, valued at $19,590,128.67. The trade was a 17.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nucor

Several institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its holdings in Nucor by 21.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Nucor during the first quarter worth about $259,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after buying an additional 153 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

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.