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May 13, 2021, 8:10 a.m. EDT

Nucor sets new $3 billion stock repurchase program, which could represent more than 10% of its shares

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By Tomi Kilgore

Nucor Corp. /zigman2/quotes/201889722/composite NUE +2.15% said Thursday it has set a new $3.0 billion stock repurchase program. Based on the previous session's stock closing price of $95.99, the steel products company could buy back about 10.4% of the shares outstanding. The company said the new program replaces the $2.0 billion program that was authorized in September 2018, of which $1.55 billion of common stock had been repurchased. The new program has no expiration date. The stock, which slipped 0.3% in premarket trading, has soared 80.5% year to date through Wednesday, as continuous HRC Steel Futures /zigman2/quotes/210067715/delayed HRN00 -0.06% have run up 66.2% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.03% has gained 8.2%.

/zigman2/quotes/201889722/composite
US : U.S.: NYSE
$ 97.74
+2.06 +2.15%
Volume: 472,018
June 23, 2021 9:54a
P/E Ratio
18.13
Dividend Yield
1.66%
Market Cap
$28.63 billion
Rev. per Employee
$762,866
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/zigman2/quotes/210067715/delayed
US : U.S.: Nymex
$ 1,658.00
-1.00 -0.06%
Volume: 32.00
June 23, 2021 9:07a
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/zigman2/quotes/210599714/realtime
US : S&P US
4,247.89
+1.45 +0.03%
Volume: 200.53M
June 23, 2021 9:54a
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