Nucor Co. (NYSE:NUE) has earned an average recommendation of “Hold” from the sixteen brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $70.77.
NUE has been the topic of a number of research reports. Zacks Investment Research lowered shares of Nucor from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Jefferies Group reissued a “buy” rating and set a $77.00 price objective on shares of Nucor in a report on Tuesday, January 9th. ValuEngine lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Goldman Sachs began coverage on shares of Nucor in a report on Tuesday, March 20th. They set a “buy” rating and a $78.00 price objective on the stock. Finally, Longbow Research raised shares of Nucor from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th.
In other Nucor news, Chairman John J. Ferriola sold 14,313 shares of Nucor stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $64.12, for a total value of $917,749.56. Following the transaction, the chairman now directly owns 333,775 shares of the company’s stock, valued at $21,401,653. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of Nucor stock in a transaction on Monday, March 19th. The stock was sold at an average price of $65.11, for a total transaction of $520,880.00. Following the completion of the transaction, the executive vice president now directly owns 78,381 shares in the company, valued at $5,103,386.91. The disclosure for this sale can be found here. Insiders sold 64,350 shares of company stock worth $4,312,607 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Main Street Research LLC grew its holdings in Nucor by 1.9% in the fourth quarter. Main Street Research LLC now owns 200,752 shares of the basic materials company’s stock worth $12,764,000 after purchasing an additional 3,730 shares during the last quarter. SG Americas Securities LLC grew its holdings in Nucor by 330.3% in the fourth quarter. SG Americas Securities LLC now owns 63,096 shares of the basic materials company’s stock worth $4,012,000 after purchasing an additional 48,432 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Nucor by 60.4% during the fourth quarter. Bank of Montreal Can now owns 514,931 shares of the basic materials company’s stock worth $32,739,000 after buying an additional 194,001 shares during the period. Capital One National Association lifted its stake in shares of Nucor by 20.1% during the fourth quarter. Capital One National Association now owns 8,784 shares of the basic materials company’s stock worth $559,000 after buying an additional 1,470 shares during the period. Finally, State of Tennessee Treasury Department lifted its stake in shares of Nucor by 44.6% during the fourth quarter. State of Tennessee Treasury Department now owns 125,576 shares of the basic materials company’s stock worth $7,984,000 after buying an additional 38,761 shares during the period. 80.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:NUE opened at $60.69 on Wednesday. The company has a market cap of $20,061.81, a PE ratio of 17.29, a P/E/G ratio of 0.99 and a beta of 1.54. Nucor has a one year low of $51.67 and a one year high of $70.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.42.
Nucor (NYSE:NUE) last issued its earnings results on Tuesday, January 30th. The basic materials company reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.10. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.86 billion. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The company’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. sell-side analysts anticipate that Nucor will post 5.32 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Thursday, March 29th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Wednesday, March 28th. Nucor’s dividend payout ratio is currently 43.30%.
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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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