Jefferies Group reissued their buy rating on shares of Nucor (NYSE:NUE) in a report released on Tuesday, January 9th. The brokerage 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.
A number of other equities research analysts have also recently weighed in on the company. Credit Suisse Group increased their price target on Nucor from $63.00 to $67.00 and gave the company an outperform rating in a research note on Friday, October 20th. Morgan Stanley cut Nucor from an overweight rating to an equal weight rating and dropped their price target for the company from $78.00 to $60.00 in a research note on Tuesday, September 12th. Zacks Investment Research cut Nucor from a hold rating to a sell rating in a research report on Tuesday, December 26th. KeyCorp reiterated a hold rating on shares of Nucor in a research report on Thursday, October 19th. Finally, ValuEngine upgraded Nucor from a hold rating to a buy rating in a research report on Sunday, December 31st. One research 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. The company presently has an average rating of Buy and an average target price of $69.37.
Nucor (NYSE:NUE) traded down $2.14 during midday trading on Tuesday, hitting $64.24. The stock had a trading volume of 3,810,000 shares, compared to its average volume of 2,910,000. The firm has a market cap of $20,420.00, a P/E ratio of 15.67, a PEG ratio of 1.08 and a beta of 1.56. The company has a current ratio of 2.42, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. Nucor has a 12 month low of $51.67 and a 12 month high of $70.48.
Nucor (NYSE:NUE) last posted its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.10. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the prior year, the business earned $0.50 EPS. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. equities analysts predict that Nucor will post 5.02 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.38 per share. This is a positive change from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, December 28th. Nucor’s dividend payout ratio is 37.07%.
In related news, 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 value of $2,493,683.56. Following the sale, the executive vice president now directly owns 233,824 shares of the company’s stock, valued at $14,936,677.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Security National Bank of Sioux City Iowa IA boosted its stake in shares of Nucor by 0.4% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 21,597 shares of the basic materials company’s stock valued at $1,249,000 after purchasing an additional 77 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Nucor by 1.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,278 shares of the basic materials company’s stock valued at $421,000 after purchasing an additional 97 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Nucor by 2.4% during the second quarter. Hillsdale Investment Management Inc. now owns 5,530 shares of the basic materials company’s stock valued at $320,000 after purchasing an additional 130 shares in the last quarter. Segment Wealth Management LLC boosted its stake in shares of Nucor by 3.3% during the second quarter. Segment Wealth Management LLC now owns 4,140 shares of the basic materials company’s stock valued at $240,000 after purchasing an additional 132 shares in the last quarter. Finally, Veritable L.P. boosted its stake in shares of Nucor by 2.0% during the second quarter. Veritable L.P. now owns 9,600 shares of the basic materials company’s stock valued at $556,000 after purchasing an additional 191 shares in the last quarter. 74.46% of the stock is currently owned by institutional investors and hedge funds.
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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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