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

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

Nucor has raised 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. 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 Price Performance

Shares of NUE stock opened at $250.59 on Thursday. Nucor has a 52-week low of $115.66 and a 52-week high of $264.67. The stock has a market cap of $57.07 billion, a PE ratio of 24.81, a PEG ratio of 0.67 and a beta of 1.88. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The firm’s 50 day moving average price is $218.92 and its two-hundred day moving average price is $187.36.

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

Insiders Place Their Bets

In related news, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the sale, the executive vice president directly owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Allen C. Behr sold 10,096 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the completion of the sale, the executive vice president directly owned 62,871 shares in the company, valued at $14,213,875.68. This represents a 13.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 82,378 shares of company stock worth $18,963,930 in the last ninety days. 0.62% of the stock is owned by insiders.

Institutional Investors Weigh In On Nucor

Several institutional investors have recently added to or reduced their stakes in NUE. Integrated Wealth Concepts LLC lifted its position in Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after acquiring an additional 568 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Nucor in the 1st quarter valued at $259,000. Geneos Wealth Management Inc. increased its stake in Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after buying an additional 153 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Nucor in the 2nd quarter valued at $390,000. Finally, Cerity Partners LLC increased its stake in Nucor by 51.9% in the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after buying an additional 13,877 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

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.