Nucor Co. (NYSE:NUE) – Equities research analysts at Jefferies Group reduced their Q4 2017 EPS estimates for shares of Nucor in a research report issued on Tuesday. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings of $0.55 per share for the quarter, down from their prior estimate of $0.78. Jefferies Group has a “Buy” rating and a $77.00 price objective on the stock.
NUE has been the subject of a number of other reports. Bank of America set a $75.00 target price on Nucor and gave the company a “buy” rating in a research note on Monday. Credit Suisse Group decreased their target price on Nucor from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, September 28th. KeyCorp reissued a “hold” rating on shares of Nucor in a research note on Tuesday, September 19th. ValuEngine raised Nucor from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Cowen boosted their target price on Nucor from $57.00 to $63.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $68.19.
Nucor (NYSE NUE) opened at $68.94 on Thursday. Nucor has a 52 week low of $51.67 and a 52 week high of $69.06. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $21,920.00, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.29 and a beta of 1.58.
Nucor (NYSE:NUE) last posted its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the firm earned $0.88 earnings per share. The company’s revenue was up 20.5% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be given a dividend of $0.38 per share. This is a boost from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, December 28th. Nucor’s dividend payout ratio is currently 42.34%.
In related news, Chairman John J. Ferriola sold 15,131 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $60.40, for a total transaction of $913,912.40. Following the completion of the transaction, the chairman now directly owns 349,506 shares of the company’s stock, valued at $21,110,162.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider D. Chad Utermark sold 9,003 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 73,883 shares of the company’s stock, valued at $4,412,292.76. The disclosure for this sale can be found here. Insiders have sold 80,754 shares of company stock valued at $4,964,014 over the last ninety days. 0.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Nucor by 1.3% during the second quarter. Vanguard Group Inc. now owns 25,573,754 shares of the basic materials company’s stock valued at $1,479,954,000 after purchasing an additional 319,596 shares during the last quarter. Northern Trust Corp boosted its position in Nucor by 15.0% during the second quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock valued at $333,275,000 after purchasing an additional 750,796 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Nucor by 3.4% during the third quarter. Dimensional Fund Advisors LP now owns 4,621,566 shares of the basic materials company’s stock valued at $258,974,000 after purchasing an additional 150,219 shares during the last quarter. Prudential PLC boosted its position in Nucor by 28.2% during the second quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock valued at $130,804,000 after purchasing an additional 496,700 shares during the last quarter. Finally, Boston Partners boosted its position in Nucor by 3.7% during the third quarter. Boston Partners now owns 1,961,046 shares of the basic materials company’s stock valued at $109,897,000 after purchasing an additional 70,358 shares during the last quarter. 74.31% of the stock is owned by hedge funds and other 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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