Nucor Corp. (NUE) Declares Quarterly Dividend of $0.38
Nucor Corp. (NYSE:NUE) announced a quarterly dividend on Wednesday, November 30th. Investors of record on Friday, December 30th will be paid a dividend of 0.3775 per share on Friday, February 10th. This represents a $1.51 annualized dividend and a dividend yield of 2.43%. This is a positive change from Nucor Corp.’s previous quarterly dividend of $0.38.
Shares of Nucor Corp. (NYSE:NUE) opened at 62.19 on Thursday. The company’s 50 day moving average is $53.38 and its 200 day moving average is $50.89. The company has a market cap of $19.81 billion, a P/E ratio of 39.02 and a beta of 1.38. Nucor Corp. has a 12 month low of $33.90 and a 12 month high of $63.27.
Nucor Corp. (NYSE:NUE) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by $0.06. Nucor Corp. had a return on equity of 9.27% and a net margin of 3.26%. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. Nucor Corp.’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts predict that Nucor Corp. will post $2.34 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SevenBridge Financial Group LLC bought a new position in shares of Nucor Corp. during the second quarter worth about $114,000. Sunbelt Securities Inc. raised its position in shares of Nucor Corp. by 0.8% in the second quarter. Sunbelt Securities Inc. now owns 2,494 shares of the company’s stock worth $123,000 after buying an additional 19 shares during the last quarter. Compagnie Lombard Odier SCmA raised its position in shares of Nucor Corp. by 197.8% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,978 shares of the company’s stock worth $147,000 after buying an additional 1,978 shares during the last quarter. IronBridge Capital Management LP bought a new position in shares of Nucor Corp. during the second quarter worth about $246,000. Finally, Pacer Advisors Inc. raised its position in shares of Nucor Corp. by 10.3% in the second quarter. Pacer Advisors Inc. now owns 5,874 shares of the company’s stock worth $290,000 after buying an additional 547 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.
Several equities research analysts have issued reports on the stock. Credit Suisse Group AG set a $52.00 price objective on shares of Nucor Corp. and gave the company a “hold” rating in a research report on Saturday, October 8th. Jefferies Group reissued a “buy” rating on shares of Nucor Corp. in a research report on Saturday, October 1st. BMO Capital Markets reissued a “hold” rating on shares of Nucor Corp. in a research report on Thursday, October 20th. JPMorgan Chase & Co. boosted their price objective on shares of Nucor Corp. from $59.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Citigroup Inc. reissued a “neutral” rating on shares of Nucor Corp. in a research report on Saturday, October 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $54.31.
Nucor Corp. Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.
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