Nucor Corporation manufactures and sells steel and steel products. The company's 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; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products. It also engages in the steel trading and rebar distribution businesses. This segment sells its products to steel service centers, fabricators, and manufacturers in the United States, Canada, and Mexico. Its Steel Products segment offers hollow structural section steel tubing products, electrical conduits, steel racking, steel joists and joist girders, steel decks, fabricated concrete reinforcing steel products, cold finished steel products, steel fasteners, metal building systems, insulated metal panels, steel grating and expanded metal products, and wire and wire mesh products primarily for use in nonresidential construction applications. This segment also engages in the piling distribution business. The company's Raw Materials segment produces direct reduced iron (DRI); brokers ferrous and nonferrous metals, pig iron, hot briquetted iron, and DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap metal, as well as engages in the natural gas drilling operations. This segment sells its ferrous scrap to electric arc furnace steel mills and foundries for manufacturing process; and nonferrous scrap metal to aluminum can producers, secondary aluminum smelters, steel mills and other processors, and consumers of various nonferrous metals. It serves agriculture, automotive, construction, energy and transmission, oil and gas, heavy equipment, infrastructure, and transportation industries through its in-house sales force; and internal distribution and trading companies. Nucor Corporation was incorporated in 1958 and is based in Charlotte, North Carolina.
Nucor Stock Up 1.5 %
Shares of Nucor stock opened at $142.54 on Friday. The company has a fifty day moving average price of $120.62 and a 200 day moving average price of $131.29. The company has a current ratio of 2.62, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. Nucor has a twelve month low of $88.50 and a twelve month high of $187.90. The stock has a market cap of $37.31 billion, a price-to-earnings ratio of 4.37 and a beta of 1.40.
Nucor (NYSE:NUE - Get Rating) last posted its earnings results on Thursday, July 21st. The basic materials company reported $9.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.91 by $0.76. The business had revenue of $11.79 billion during the quarter, compared to analyst estimates of $11.59 billion. Nucor had a return on equity of 57.78% and a net margin of 21.03%. The company's revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter last year, the firm earned $5.04 earnings per share. Equities research analysts forecast that Nucor will post 3.45 earnings per share for the current fiscal year.
Nucor Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Thursday, June 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.40%. Nucor's dividend payout ratio (DPR) is presently 6.14%.
Wall Street Analyst Weigh In
NUE has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Nucor from $148.00 to $130.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 31st. UBS Group set a $120.00 price objective on Nucor in a report on Monday, June 20th. BMO Capital Markets dropped their target price on Nucor from $168.00 to $128.00 in a research note on Tuesday, May 17th. Argus raised their price target on Nucor from $140.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, April 25th. Finally, Morgan Stanley dropped their price objective on shares of Nucor from $121.00 to $115.00 and set an "equal weight" rating for the company in a research note on Monday, July 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Nucor has an average rating of "Hold" and an average price target of $133.18.
Insider Activity at Nucor
In other Nucor news, CEO Leon J. Topalian sold 48,768 shares of the company's stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $112.61, for a total value of $5,491,764.48. Following the completion of the transaction, the chief executive officer now directly owns 135,809 shares of the company's stock, valued at approximately $15,293,451.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Leon J. Topalian sold 48,768 shares of the business's stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $112.61, for a total value of $5,491,764.48. Following the transaction, the chief executive officer now owns 135,809 shares in the company, valued at $15,293,451.49. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kenneth Rex Query sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total value of $708,200.00. Following the sale, the executive vice president now owns 76,100 shares of the company's stock, valued at approximately $10,778,804. The disclosure for this sale can be found here. In the last three months, insiders sold 57,175 shares of company stock valued at $6,616,198. Corporate insiders own 0.46% of the company's stock.
