Shares of Nucor Co. (NYSE:NUE) have earned an average rating of “Hold” from the sixteen analysts that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $65.67.
A number of equities analysts recently issued reports on NUE shares. Standpoint Research raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Bank of America downgraded shares of Nucor from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $68.00 to $50.00 in a research note on Friday, May 31st. Longbow Research downgraded shares of Nucor from a “buy” rating to a “neutral” rating in a research note on Monday, March 11th. ValuEngine downgraded shares of Nucor from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. Finally, Deutsche Bank downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th.
In other Nucor news, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $58.28, for a total transaction of $582,800.00. Following the completion of the transaction, the insider now owns 96,778 shares of the company’s stock, valued at $5,640,221.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John J. Ferriola sold 65,061 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $56.20, for a total transaction of $3,656,428.20. Following the transaction, the chairman now directly owns 403,735 shares of the company’s stock, valued at approximately $22,689,907. The disclosure for this sale can be found here. Insiders have sold 76,314 shares of company stock valued at $4,310,637 in the last ninety days. Insiders own 0.96% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pinnacle Bank purchased a new stake in shares of Nucor during the fourth quarter valued at approximately $26,000. Lindbrook Capital LLC purchased a new stake in shares of Nucor during the fourth quarter valued at approximately $27,000. WealthBridge Capital Management LLC purchased a new stake in shares of Nucor during the first quarter valued at approximately $29,000. Ropes Wealth Advisors LLC purchased a new stake in shares of Nucor during the first quarter valued at approximately $34,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Nucor during the fourth quarter valued at approximately $38,000. 76.54% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:NUE traded up $0.80 during midday trading on Tuesday, hitting $51.74. 2,211,700 shares of the stock traded hands, compared to its average volume of 2,480,863. The company has a market cap of $15.50 billion, a price-to-earnings ratio of 6.79, a price-to-earnings-growth ratio of 0.78 and a beta of 1.53. The company has a current ratio of 3.37, a quick ratio of 1.64 and a debt-to-equity ratio of 0.40. Nucor has a one year low of $47.13 and a one year high of $68.84.
Nucor (NYSE:NUE) last issued its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.50 by $0.05. Nucor had a net margin of 9.80% and a return on equity of 24.86%. The firm had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $6.05 billion. During the same period in the prior year, the firm posted $1.17 earnings per share. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, research analysts forecast that Nucor will post 5.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, June 27th. Nucor’s dividend payout ratio is 21.00%.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates in three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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