Nucor (NYSE:NUE) announced its quarterly earnings data on Thursday. The basic materials company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.06), RTT News reports. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the previous year, the business earned $1.13 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year.
Shares of Nucor stock traded up $0.17 on Thursday, reaching $65.59. The stock had a trading volume of 1,600,272 shares, compared to its average volume of 2,838,417. The company has a quick ratio of 1.19, a current ratio of 2.42 and a debt-to-equity ratio of 0.36. Nucor has a 1 year low of $51.67 and a 1 year high of $70.48. The company has a market cap of $20,389.28, a P/E ratio of 18.64, a PEG ratio of 0.95 and a beta of 1.54.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Thursday, March 29th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Wednesday, March 28th. Nucor’s payout ratio is currently 43.30%.
A number of equities research analysts recently weighed in on NUE shares. Longbow Research upgraded shares of Nucor from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Zacks Investment Research lowered shares of Nucor from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Bank of America set a $75.00 price target on shares of Nucor and gave the company a “buy” rating in a report on Monday, January 8th. Finally, Jefferies Group restated a “buy” rating and issued a $77.00 price target on shares of Nucor in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $69.37.
In other news, Director Victoria F. Haynes sold 3,000 shares of Nucor stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $69.12, for a total value of $207,360.00. Following the transaction, the director now owns 30,573 shares of the company’s stock, valued at approximately $2,113,205.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James D. Frias sold 39,037 shares of Nucor stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.31, for a total transaction of $2,666,617.47. Following the completion of the transaction, the chief financial officer now directly owns 177,204 shares in the company, valued at approximately $12,104,805.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,350 shares of company stock worth $4,312,607. Insiders own 0.70% 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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