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 Performance
Shares of NYSE:NUE opened at $141.49 on Thursday. The company has a market capitalization of $37.65 billion, a price-to-earnings ratio of 4.34 and a beta of 1.40. Nucor has a 12 month low of $88.50 and a 12 month high of $187.90. The firm's 50-day moving average is $119.11 and its 200 day moving average is $129.40. 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 (NYSE:NUE - Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The basic materials company reported $9.67 EPS for the quarter, beating the consensus estimate of $8.91 by $0.76. The company had revenue of $11.79 billion for the quarter, compared to the consensus estimate of $11.59 billion. Nucor had a net margin of 21.03% and a return on equity of 57.78%. The firm's revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.04 EPS. Research analysts predict that Nucor will post 3.45 EPS for the current year.
Nucor Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Thursday, June 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $2.00 annualized dividend and a yield of 1.41%. Nucor's dividend payout ratio (DPR) is 6.14%.
Analysts Set New Price Targets
A number of analysts have issued reports on the stock. UBS Group set a $120.00 price target on shares of Nucor in a report on Monday, June 20th. The Goldman Sachs Group reduced their price target on shares of Nucor from $148.00 to $130.00 and set a "neutral" rating on the stock in a report on Tuesday, May 31st. Credit Suisse Group boosted their target price on shares of Nucor from $142.00 to $175.00 and gave the stock an "outperform" rating in a report on Friday, April 22nd. BMO Capital Markets reduced their target price on shares of Nucor from $168.00 to $128.00 in a report on Tuesday, May 17th. Finally, StockNews.com upgraded shares of Nucor from a "hold" rating to a "buy" rating in a report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Nucor has an average rating of "Hold" and an average target price of $133.18.
Insider Buying and Selling at Nucor
In other Nucor news, CEO Leon J. Topalian sold 48,768 shares of the business'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 sale, 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 available through this link. In other Nucor news, EVP Allen C. Behr sold 3,407 shares of the business's stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $122.17, for a total value of $416,233.19. Following the completion of the sale, the executive vice president now directly owns 64,087 shares of the company's stock, valued at approximately $7,829,508.79. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Leon J. Topalian sold 48,768 shares of the business's stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $112.61, for a total transaction of $5,491,764.48. Following the completion of the sale, the chief executive officer now directly owns 135,809 shares of the company's stock, valued at $15,293,451.49. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.
