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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 -3.80% 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 +0.49% have run up 66.2% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.23% has gained 8.2%.

/zigman2/quotes/201889722/composite
US : U.S.: NYSE
$ 102.54
-4.06 -3.80%
Volume: 1.85M
June 14, 2021 1:47p
P/E Ratio
19.06
Dividend Yield
1.58%
Market Cap
$31.90 billion
Rev. per Employee
$762,866
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/zigman2/quotes/210067715/delayed
US : U.S.: Nymex
$ 1,655.00
+8.00 +0.49%
Volume: 2.00
June 14, 2021 12:18p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,237.53
-9.91 -0.23%
Volume: 934.31M
June 14, 2021 1:48p
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