25 Best Dividend Aristocrats to Buy According to Analysts

5. Nucor Corporation (NYSE:NUE)

Upside Potential as of May 26: 22.1%

Nucor Corporation (NYSE:NUE) is an American steel production company, based in North Carolina. The company is one of the largest producers of steel in the US which helps it to maintain a competitive edge in the industry. The stock is currently trading at a P/E multiple of 10.07x, which appears to be undervalued and makes it a good investment opportunity. According to Street analysts, the stock has the potential to increase in value by 22.1% based on current market projections. The company showed a strong performance in the first quarter of 2024, even though steel market conditions have cooled off from their highest levels since the pandemic. The steel industry in the US is continuously evolving due to various internal and external factors, which offer different opportunities for the company to compete, adapt, and innovate effectively.

One of the best dividend aristocrat stocks, Nucor Corporation (NYSE:NUE) currently offers a quarterly dividend of $0.54 per share. The company is a Dividend King, having raised its payouts for 51 consecutive years. The stock has a dividend yield of 1.26%, as of May 26.

Nucor Corporation (NYSE:NUE) was included in 39 hedge fund portfolios at the end of Q1 2024, compared with 40 in the previous quarter, as per Insider Monkey’s database. The collective value of stakes owned by these hedge funds is over $468.7 million.