Nucor Co. (NYSE:NUE) – Equities researchers at KeyCorp dropped their FY2018 EPS estimates for shares of Nucor in a note issued to investors on Sunday, according to Zacks Investment Research. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings of $3.75 per share for the year, down from their previous estimate of $3.83. KeyCorp currently has a “Hold” rating on the stock.
A number of other equities analysts also recently weighed in on the stock. Credit Suisse Group boosted their price target on shares of Nucor from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Zacks Investment Research downgraded shares of Nucor from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Jefferies Group reaffirmed a “buy” rating on shares of Nucor in a report on Saturday, September 16th. Cowen upped their price objective on shares of Nucor from $57.00 to $63.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. Finally, Longbow Research raised shares of Nucor from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $68.37.
Nucor (NYSE NUE) opened at $69.02 on Wednesday. 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 firm has a market cap of $21,940.00, a PE ratio of 19.23, a P/E/G ratio of 1.26 and a beta of 1.58. Nucor has a fifty-two week low of $51.67 and a fifty-two week high of $70.48.
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, topping the Thomson Reuters’ 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 firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the business posted $0.88 EPS. The business’s revenue was up 20.5% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.20%. This is an increase from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, December 28th. Nucor’s dividend payout ratio is presently 42.34%.
In related news, EVP Robert J. Stratman sold 39,037 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $63.88, for a total value of $2,493,683.56. Following the transaction, the executive vice president now directly owns 233,824 shares in the company, valued at $14,936,677.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider D. Chad Utermark sold 9,003 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $59.72, for a total transaction of $537,659.16. Following the completion of the transaction, the insider now owns 73,883 shares in the company, valued at $4,412,292.76. The disclosure for this sale can be found here. Over 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.
Hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC increased its position in shares of Nucor by 1.4% in the second quarter. Jennison Associates LLC now owns 7,140 shares of the basic materials company’s stock worth $413,000 after purchasing an additional 99 shares during the last quarter. CWA Asset Management Group LLC grew its position in Nucor by 7.1% during the second quarter. CWA Asset Management Group LLC now owns 35,994 shares of the basic materials company’s stock valued at $2,083,000 after acquiring an additional 2,380 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Nucor by 8.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,237 shares of the basic materials company’s stock valued at $2,676,000 after acquiring an additional 3,792 shares during the last quarter. Swiss National Bank grew its position in Nucor by 3.1% during the second quarter. Swiss National Bank now owns 1,163,561 shares of the basic materials company’s stock valued at $67,335,000 after acquiring an additional 35,100 shares during the last quarter. Finally, Flippin Bruce & Porter Inc. grew its position in Nucor by 1,802.0% during the third quarter. Flippin Bruce & Porter Inc. now owns 82,298 shares of the basic materials company’s stock valued at $4,612,000 after acquiring an additional 77,971 shares during the last quarter. Institutional investors own 74.31% of the company’s stock.
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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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