Nucor (NYSE:NUE) Releases Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Nucor reported quarterly earnings of $2.60 per share, beating analysts' estimates of $2.54 by $0.06.
• The company announced a quarterly dividend of $0.55 per share, with a dividend yield of 1.52%.
• Nucor's stock has experienced a 0.9% decline in value during trading, falling to $144.52 per share.

Nucor (NYSE:NUE - Get Free Report) posted its quarterly earnings results on Monday. The basic materials company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.54 by $0.06, Zacks reports. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%. The company's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.68 EPS.

Nucor Price Performance

Shares of NUE traded down $4.07 during trading hours on Friday, reaching $139.00. 334,716 shares of the company traded hands, compared to its average volume of 2,562,687. The company has a quick ratio of 1.48, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $32.07 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 0.91 and a beta of 1.70. Nucor has a fifty-two week low of $97.59 and a fifty-two week high of $170.52. The stock has a fifty day simple moving average of $130.02 and a 200 day simple moving average of $125.61.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. Nucor's dividend payout ratio (DPR) is presently 39.71%.

Insiders Place Their Bets

In other news, EVP Kenneth Rex Query sold 10,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president directly owned 94,080 shares in the company, valued at $12,265,209.60. This trade represents a 9.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Daniel R. Needham sold 7,088 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total value of $906,342.56. Following the completion of the transaction, the executive vice president owned 99,379 shares in the company, valued at approximately $12,707,592.73. This trade represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nucor

Hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. increased its holdings in Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock worth $41,000 after purchasing an additional 153 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Nucor in the 1st quarter worth approximately $259,000. Finally, Integrated Wealth Concepts LLC grew its position in shares of Nucor by 21.1% during the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company's stock worth $393,000 after acquiring an additional 568 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on NUE shares. JPMorgan Chase & Co. boosted their price objective on shares of Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a report on Monday, July 14th. The Goldman Sachs Group lowered their price target on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. UBS Group reduced their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Jefferies Financial Group upgraded Nucor from a "hold" rating to a "buy" rating and boosted their price objective for the company from $135.00 to $170.00 in a research note on Thursday. Finally, Morgan Stanley upped their price target on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $157.13.

Nucor Company Profile

Nucor 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.