Seaport Res Ptn Weighs in on Nucor Co.'s Q3 2024 Earnings (NYSE:NUE)

Nucor Co. (NYSE:NUE - Free Report) - Stock analysts at Seaport Res Ptn boosted their Q3 2024 earnings per share (EPS) estimates for shares of Nucor in a report released on Tuesday, April 23rd. Seaport Res Ptn analyst M. Englert now expects that the basic materials company will post earnings per share of $3.08 for the quarter, up from their prior forecast of $3.05. The consensus estimate for Nucor's current full-year earnings is $12.93 per share. Seaport Res Ptn also issued estimates for Nucor's Q4 2024 earnings at $2.93 EPS and Q4 2025 earnings at $2.72 EPS.

NUE has been the subject of a number of other research reports. BMO Capital Markets reduced their price objective on Nucor from $210.00 to $200.00 and set a "market perform" rating for the company in a research note on Wednesday. StockNews.com cut shares of Nucor from a "buy" rating to a "hold" rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of Nucor from $195.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday. UBS Group initiated coverage on shares of Nucor in a research report on Tuesday, January 16th. They issued a "buy" rating and a $210.00 price objective for the company. Finally, Citigroup upgraded Nucor from a "neutral" rating to a "buy" rating and raised their target price for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Nucor presently has an average rating of "Hold" and an average target price of $193.14.

Nucor Stock Performance

NYSE NUE traded up $3.12 during trading hours on Thursday, reaching $175.88. The stock had a trading volume of 1,623,346 shares, compared to its average volume of 1,443,334. Nucor has a 52-week low of $129.79 and a 52-week high of $203.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.35 and a current ratio of 4.02. The stock has a market cap of $42.21 billion, a P/E ratio of 10.16 and a beta of 1.61. The stock has a fifty day moving average of $191.04 and a 200 day moving average of $174.17.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts' consensus estimates of $3.62 by ($0.16). The company had revenue of $8.14 billion for the quarter, compared to analysts' expectations of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. Nucor's quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the firm earned $4.45 earnings per share.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.23%. The ex-dividend date is Wednesday, March 27th. Nucor's dividend payout ratio is currently 12.71%.

Insider Buying and Selling at Nucor

In related news, EVP Allen C. Behr sold 10,000 shares of the business's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the transaction, the executive vice president now directly owns 80,902 shares in the company, valued at $15,386,751.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the transaction, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael D. Keller sold 3,145 shares of the firm's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares of the company's stock, valued at $4,817,153.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,151 shares of company stock worth $7,308,683. Corporate insiders own 0.46% of the company's stock.

Hedge Funds Weigh In On Nucor

Several institutional investors and hedge funds have recently bought and sold shares of the company. Criterion Capital Advisors LLC purchased a new position in Nucor in the fourth quarter worth approximately $25,000. Rise Advisors LLC acquired a new stake in shares of Nucor during the 1st quarter worth about $27,000. Tompkins Financial Corp raised its stake in shares of Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 104 shares during the period. Fortitude Family Office LLC raised its position in Nucor by 54.1% in the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 59 shares during the period. Finally, Valley National Advisers Inc. boosted its position in Nucor by 716.7% in the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company's stock valued at $34,000 after buying an additional 172 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

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.