Other analysts have also recently issued reports about the stock. Citigroup set a $66.00 price objective on shares of Nucor and gave the stock a buy rating in a research note on Friday, October 20th. Credit Suisse Group reduced their price objective on shares of Nucor from $68.00 to $63.00 and set a buy rating for the company in a research note on Thursday, September 28th. Jefferies Group reissued a buy rating and issued a $68.00 price objective on shares of Nucor in a research note on Friday, October 6th. ValuEngine raised shares of Nucor from a hold rating to a buy rating in a research note on Friday, December 1st. Finally, Longbow Research upgraded shares of Nucor from a neutral rating to a buy rating in a research report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $68.37.
Nucor (NYSE:NUE) traded down $0.07 on Monday, hitting $68.95. 4,300,000 shares of the stock traded hands, compared to its average volume of 3,320,000. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12. Nucor has a 1 year low of $51.67 and a 1 year high of $70.48. The stock has a market capitalization of $21,920.00, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.21 and a beta of 1.58.
Nucor (NYSE:NUE) last announced its earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The business had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the company earned $0.88 earnings per share. The firm’s revenue was up 20.5% on a year-over-year basis. equities analysts predict that Nucor will post 3.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.52 annualized dividend and a yield of 2.20%. This is a positive change from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio (DPR) is 42.34%.
In other news, insider D. Chad Utermark sold 9,003 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $59.72, for a total value of $537,659.16. Following the sale, the insider now owns 73,883 shares of the company’s stock, valued at $4,412,292.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman John J. Ferriola sold 15,131 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $60.40, for a total transaction of $913,912.40. Following the completion of the sale, the chairman now directly owns 349,506 shares in the company, valued at approximately $21,110,162.40. The disclosure for this sale can be found here. In the last three months, insiders sold 80,754 shares of company stock worth $4,964,014. Insiders own 0.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NUE. Pacer Advisors Inc. increased its stake in Nucor by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 6,495 shares of the basic materials company’s stock worth $376,000 after buying an additional 497 shares during the period. Neuberger Berman Group LLC increased its stake in Nucor by 19.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 137,789 shares of the basic materials company’s stock worth $7,974,000 after buying an additional 22,075 shares during the period. Pinnacle Associates Ltd. purchased a new position in Nucor in the 2nd quarter worth about $282,000. Fiduciary Trust Co. purchased a new position in Nucor in the 2nd quarter worth about $109,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in Nucor in the 2nd quarter worth about $241,000. 74.34% of the stock is currently owned by institutional investors.
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Nucor Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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