11 Undervalued Dividend Aristocrats to Buy Now

6. Nucor Corporation (NYSE:NUE)

Forward P/E Ratio as of May 7: 15.65

Nucor Corporation (NYSE:NUE) is a North Carolina-based company that specializes in steel and related products. What sets Nucor apart from many of its competitors in the steel industry is its unique business model. Unlike traditional producers, the company uses electric arc mini mills that rely heavily on scrap steel. These mills are more adaptable than blast furnaces, which produce primary steel from iron ore and metallurgical coal. This flexibility enables Nucor to adjust production based on market demand, helping the company maintain healthy profit margins throughout the ups and downs of the steel cycle. The stock has surged by nearly 1% since the start of 2025.

In the first quarter of 2025, Nucor Corporation (NYSE:NUE) reported revenue of $7.8 billion, which showed a 4% growth from the same period last year. The revenue and EPS of $0.77 beat analysts’ estimates by $550.8 million and $0.10, respectively. The average sales price per ton dropped by 2% compared to the fourth quarter of 2024 and was down 12% year-over-year. Despite the decline in pricing, total shipments to external customers reached 6,830,000 tons, reflecting a 13% increase from the previous quarter and a 10% rise compared to the same period in 2024.

Nucor Corporation (NYSE:NUE) generated $364 million in operating cash flow in the most recent quarter. The company ended the quarter with $3.1 billion available in cash and cash equivalents. It offers a quarterly dividend of $0.55 per share for a dividend yield of 1.90%, as of May 7. The company is a Dividend King with 52 consecutive years of dividend growth under its belt.