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 Price Performance
Shares of NUE Stock opened at $140.47 on Thursday. The firm has a fifty day moving average of $120.24 and a two-hundred day moving average of $131.01. The firm has a market cap of $36.77 billion, a P/E ratio of 4.31 and a beta of 1.40. Nucor has a 1-year low of $88.50 and a 1-year high of $187.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.62 and a quick ratio of 1.39.
Nucor (NYSE:NUE - Get Rating) last posted its quarterly earnings results on Thursday, July 21st. The basic materials company reported $9.67 EPS for the quarter, topping analysts' consensus estimates of $8.91 by $0.76. Nucor had a return on equity of 57.78% and a net margin of 21.03%. The business had revenue of $11.79 billion during the quarter, compared to the consensus estimate of $11.59 billion. During the same period last year, the firm earned $5.04 earnings per share. The company's revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, research analysts anticipate that Nucor will post 3.45 earnings per share for the current fiscal year.
Nucor Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Thursday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Wednesday, June 29th. Nucor's dividend payout ratio (DPR) is presently 6.14%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $146.00 to $125.00 and set a "neutral" rating for the company in a research note on Tuesday, June 14th. Argus boosted their price target on Nucor from $140.00 to $190.00 and gave the company a "buy" rating in a report on Monday, April 25th. UBS Group set a $120.00 price objective on shares of Nucor in a research note on Monday, June 20th. StockNews.com downgraded shares of Nucor from a "buy" rating to a "hold" rating in a report on Tuesday. Finally, BMO Capital Markets lowered their price objective on shares of Nucor from $168.00 to $128.00 in a research note on Tuesday, May 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $133.18.
Insiders Place Their Bets
In other Nucor news, EVP Allen C. Behr sold 3,407 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $122.17, for a total transaction of $416,233.19. Following the sale, the executive vice president now directly owns 64,087 shares of the company's stock, valued at $7,829,508.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Allen C. Behr sold 3,407 shares of the business's stock in a transaction on Monday, July 25th. The shares were sold at an average price of $122.17, for a total transaction of $416,233.19. Following the completion of the transaction, the executive vice president now owns 64,087 shares of the company's stock, valued at $7,829,508.79. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 5,000 shares of Nucor stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total transaction of $708,200.00. Following the completion of the sale, the executive vice president now owns 76,100 shares in the company, valued at $10,778,804. The disclosure for this sale can be found here. Insiders sold a total of 57,175 shares of company stock valued at $6,616,198 over the last 90 days. 0.46% of the stock is owned by company insiders.
