Shares of Nucor Co. (NYSE:NUE) have earned a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $70.77.
Several brokerages recently weighed in on NUE. Bank of America set a $75.00 price objective on shares of Nucor and gave the company a “buy” rating in a report on Monday, January 8th. Jefferies Group restated a “buy” rating and issued a $77.00 price objective on shares of Nucor in a report on Tuesday, January 9th. Zacks Investment Research upgraded shares of Nucor from a “sell” rating to a “hold” rating and set a $76.00 price objective on the stock in a report on Monday, January 8th. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Credit Suisse Group increased their price objective on shares of Nucor from $67.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st.
Shares of NUE stock traded up $0.59 during trading hours on Wednesday, reaching $61.28. 164,142 shares of the company were exchanged, compared to its average volume of 2,908,764. Nucor has a fifty-two week low of $51.67 and a fifty-two week high of $70.48. The firm has a market capitalization of $19,295.58, a price-to-earnings ratio of 17.47, a PEG ratio of 0.95 and a beta of 1.53. The company has a current ratio of 2.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.
Nucor (NYSE:NUE) last announced its earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.10. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period in the prior year, the business earned $0.50 earnings per share. Nucor’s quarterly revenue was up 28.7% on a year-over-year basis. equities research analysts forecast that Nucor will post 5.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Thursday, March 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, March 28th. Nucor’s payout ratio is presently 43.30%.
In other Nucor news, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $65.11, for a total value of $520,880.00. Following the completion of the sale, the executive vice president now owns 78,381 shares of the company’s stock, valued at $5,103,386.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman John J. Ferriola sold 14,313 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $64.12, for a total transaction of $917,749.56. Following the completion of the sale, the chairman now directly owns 333,775 shares of the company’s stock, valued at approximately $21,401,653. The disclosure for this sale can be found here. Insiders sold 64,350 shares of company stock valued at $4,312,607 in the last ninety days. Insiders own 0.80% of the company’s stock.
Large investors have recently modified their holdings of the business. Independence Bank of Kentucky bought a new stake in shares of Nucor during the fourth quarter worth $100,000. Barrett Asset Management LLC bought a new position in Nucor in the fourth quarter valued at $101,000. Cerebellum GP LLC bought a new position in Nucor in the fourth quarter valued at $131,000. Financial Gravity Companies Inc. bought a new position in Nucor in the fourth quarter valued at $140,000. Finally, Woodard & Co. Asset Management Group Inc. ADV bought a new position in Nucor in the fourth quarter valued at $147,000. 80.08% of the stock is owned by hedge funds and other institutional investors.
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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