Nucor Corporation (NYSE:NUE – Get Free Report) announced a quarterly dividend on Tuesday, June 9th. Shareholders 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 dividend yield of 0.9%. The ex-dividend date 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 increased 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. 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 Up 0.2%
Shares of NUE traded up $0.43 during midday trading on Tuesday, hitting $253.83. The stock had a trading volume of 1,110,946 shares, compared to its average volume of 1,620,419. The company has a 50 day simple moving average of $215.40 and a two-hundred day simple moving average of $185.90. Nucor has a twelve month low of $115.66 and a twelve month high of $264.67. The firm has a market cap 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 company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55.
Insider Buying and Selling at Nucor
In related news, EVP Daniel R. Needham sold 12,888 shares of Nucor stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the completion of the transaction, the executive vice president owned 89,724 shares in the company, valued at approximately $20,277,624. This trade represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David A. Sumoski sold 33,068 shares of Nucor stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $225.67, for a total value of $7,462,455.56. Following the transaction, the executive vice president owned 243,339 shares of the company’s stock, valued at $54,914,312.13. The trade was a 11.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 82,378 shares of company stock valued at $18,963,930 in the last three months. Corporate insiders own 0.62% of the company’s stock.
Hedge Funds Weigh In On Nucor
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DV Trading LLC grew its holdings in Nucor by 993.8% during the first quarter. DV Trading LLC now owns 1,400 shares of the basic materials company’s stock worth $237,000 after purchasing an additional 1,272 shares during the period. Parallel Advisors LLC grew its holdings in Nucor by 7.6% during the first quarter. Parallel Advisors LLC now owns 3,373 shares of the basic materials company’s stock worth $570,000 after purchasing an additional 239 shares during the period. First Nebraska Trust Co bought a new position in Nucor during the first quarter worth about $13,789,000. Pathway Wealth Management LLC bought a new stake in shares of Nucor during the first quarter worth approximately $207,000. Finally, Western Wealth Management LLC boosted its holdings in shares of Nucor by 41.7% during the first quarter. Western Wealth Management LLC now owns 4,378 shares of the basic materials company’s stock worth $740,000 after acquiring an additional 1,288 shares during the period. 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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