Nucor Co. (NYSE:NUE) – Analysts at Jefferies Group upped their Q3 2018 earnings estimates for shares of Nucor in a research note issued to investors on Friday, April 20th. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will earn $1.82 per share for the quarter, up from their prior estimate of $1.80. Jefferies Group has a “Buy” rating and a $76.00 price target on the stock. Jefferies Group also issued estimates for Nucor’s Q4 2018 earnings at $1.41 EPS and FY2018 earnings at $6.30 EPS.
Nucor (NYSE:NUE) last posted its quarterly earnings results on Thursday, April 19th. The basic materials company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.07. Nucor had a net margin of 6.33% and a return on equity of 12.94%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Nucor from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. ValuEngine raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Bank of America set a $75.00 price target on shares of Nucor and gave the company a “buy” rating in a research note on Monday, January 8th. BMO Capital Markets lifted their price target on shares of Nucor to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, January 31st. They noted that the move was a valuation call. Finally, Morgan Stanley decreased their price target on shares of Nucor from $70.00 to $68.00 and set a “hold” rating for the company in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Nucor currently has a consensus rating of “Buy” and an average target price of $69.37.
NUE opened at $62.26 on Monday. Nucor has a 1-year low of $51.67 and a 1-year high of $70.48. The company has a quick ratio of 1.18, a current ratio of 2.49 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $20,204.88, a price-to-earnings ratio of 17.74, a P/E/G ratio of 0.93 and a beta of 1.53.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, March 28th. Nucor’s payout ratio is presently 43.30%.
In related news, Chairman John J. Ferriola sold 14,313 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $64.12, for a total transaction of $917,749.56. Following the transaction, the chairman now directly owns 333,775 shares in the company, valued at $21,401,653. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the business’s stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $65.11, for a total transaction of $520,880.00. Following the transaction, the executive vice president now owns 78,381 shares in the company, valued at $5,103,386.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,350 shares of company stock valued at $4,312,607. 0.80% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Green Square Capital LLC boosted its holdings in Nucor by 68.6% during the fourth quarter. Green Square Capital LLC now owns 133,723 shares of the basic materials company’s stock worth $8,553,000 after purchasing an additional 54,431 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Nucor by 7.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 49,802 shares of the basic materials company’s stock worth $3,166,000 after purchasing an additional 3,464 shares during the last quarter. D.B. Root & Company LLC purchased a new position in Nucor during the fourth quarter worth about $394,000. Xact Kapitalforvaltning AB boosted its holdings in Nucor by 16.2% during the fourth quarter. Xact Kapitalforvaltning AB now owns 30,276 shares of the basic materials company’s stock worth $1,925,000 after purchasing an additional 4,220 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Nucor by 149.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 82,459 shares of the basic materials company’s stock worth $5,242,000 after purchasing an additional 49,410 shares during the last quarter. Institutional investors and hedge funds own 80.06% 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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