Nucor Corporation (NYSE:NUE - Get Free Report) has earned a consensus rating of "Buy" from the eight ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $150.00.
NUE has been the subject of several research reports. UBS Group dropped their price target on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Morgan Stanley lifted their price target on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $140.00 to $145.00 in a report on Monday, June 2nd. The Goldman Sachs Group dropped their price objective on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. dropped their price objective on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th.
Read Our Latest Analysis on Nucor
Nucor Trading Up 0.2%
NYSE:NUE traded up $0.27 during mid-day trading on Monday, hitting $140.00. The company had a trading volume of 1,458,417 shares, compared to its average volume of 2,240,111. Nucor has a fifty-two week low of $97.59 and a fifty-two week high of $170.52. The business's fifty day moving average is $121.41 and its two-hundred day moving average is $122.81. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 2.52. The firm has a market cap of $32.31 billion, a P/E ratio of 24.91, a P/E/G ratio of 0.88 and a beta of 1.70.
Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). Nucor had a return on equity of 6.82% and a net margin of 4.40%. The business had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same period in the prior year, the business earned $3.46 EPS. The company's revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, research analysts expect that Nucor will post 7.64 earnings per share for the current year.
Nucor Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be issued a $0.55 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.20 annualized dividend and a dividend yield of 1.57%. Nucor's dividend payout ratio (DPR) is presently 39.15%.
Insider Buying and Selling
In other news, EVP Kenneth Rex Query sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $130.37, for a total value of $1,303,700.00. Following the completion of the sale, the executive vice president directly owned 94,080 shares in the company, valued at $12,265,209.60. This represents a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Leon J. Topalian sold 34,238 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the completion of the sale, the chief executive officer owned 162,993 shares of the company's stock, valued at $19,590,128.67. This trade represents a 17.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,326 shares of company stock valued at $6,325,108. 0.71% of the stock is owned by company insiders.
Institutional Investors Weigh In On Nucor
Large investors have recently made changes to their positions in the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Nucor in the fourth quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new position in Nucor in the fourth quarter worth approximately $29,000. MV Capital Management Inc. grew its position in Nucor by 73.5% in the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after acquiring an additional 119 shares during the period. Fourth Dimension Wealth LLC purchased a new position in Nucor in the fourth quarter worth approximately $41,000. Finally, Geneos Wealth Management Inc. grew its position in Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock worth $41,000 after acquiring an additional 153 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.
About Nucor
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Get Free ReportNucor Corporation engages in manufacture and sale of steel and steel products. 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.
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