Jefferies Group reiterated their buy rating on shares of Nucor (NYSE:NUE) in a report published on Tuesday. Jefferies Group currently has a $77.00 price target on the basic materials company’s stock. Jefferies Group also issued estimates for Nucor’s Q4 2017 earnings at $0.55 EPS, FY2018 earnings at $4.62 EPS and FY2019 earnings at $4.94 EPS.
Several other research firms have also recently weighed in on NUE. Zacks Investment Research upgraded shares of Nucor from a sell rating to a hold rating and set a $76.00 target price for the company in a research note on Monday, January 8th. Bank of America set a $75.00 target price on shares of Nucor and gave the company a buy rating in a research note on Monday, January 8th. ValuEngine upgraded shares of Nucor from a hold rating to a buy rating in a research note on Sunday, December 31st. Longbow Research upgraded shares of Nucor from a neutral rating to a buy rating in a research note on Wednesday, December 20th. Finally, BMO Capital Markets set a $62.00 target price on shares of Nucor and gave the company a hold rating in a research note on Friday, November 17th. 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. Nucor has a consensus rating of Buy and a consensus target price of $68.37.
Shares of Nucor (NUE) traded down $1.16 during trading hours on Tuesday, hitting $69.02. The stock had a trading volume of 2,637,161 shares, compared to its average volume of 3,300,000. The firm has a market capitalization of $21,940.00, a P/E ratio of 19.23, a P/E/G ratio of 1.26 and a beta of 1.58. Nucor has a 12 month low of $51.67 and a 12 month high of $70.48. The company has a current ratio of 2.11, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37.
Nucor (NYSE:NUE) last issued its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.19 billion. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. research analysts predict that Nucor will post 3.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.38 per share. This is a boost from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a yield of 2.20%. Nucor’s dividend payout ratio (DPR) is currently 42.34%.
In other Nucor news, Chairman John J. Ferriola sold 15,131 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 349,506 shares in the company, valued at $21,110,162.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert J. Stratman sold 39,037 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the transaction, the executive vice president now owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,754 shares of company stock valued at $4,964,014. Corporate insiders own 0.70% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Mckinley Capital Management LLC Delaware bought a new position in shares of Nucor in the second quarter valued at approximately $100,000. Krilogy Financial LLC raised its stake in shares of Nucor by 4,594.6% in the second quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 1,700 shares during the last quarter. Fiduciary Trust Co. bought a new position in shares of Nucor in the second quarter valued at approximately $109,000. Sun Life Financial INC raised its stake in shares of Nucor by 23,290.0% in the second quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock valued at $135,000 after acquiring an additional 2,329 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Nucor by 791.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 2,373 shares during the last quarter. Hedge funds and other institutional investors own 74.31% of the company’s stock.
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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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