Nucor Co. (NYSE:NUE) – Investment analysts at KeyCorp raised their FY2019 earnings per share estimates for shares of Nucor in a research report issued to clients and investors on Monday, April 23rd. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings per share of $4.18 for the year, up from their previous forecast of $4.10.
Nucor (NYSE:NUE) last announced its quarterly earnings results on Thursday, April 19th. The basic materials company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.07. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.50 billion. Nucor had a net margin of 6.33% and a return on equity of 12.94%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share.
Other research analysts also recently issued reports about the stock. UBS began coverage on shares of Nucor in a report on Tuesday, April 17th. They set a “neutral” rating and a $65.00 price target for the company. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded shares of Nucor from a “hold” rating to a “strong-buy” rating and set a $73.00 price target for the company in a report on Tuesday, February 13th. Morgan Stanley lowered their price target on shares of Nucor from $70.00 to $68.00 and set a “hold” rating for the company in a report on Tuesday, February 6th. Finally, Credit Suisse Group increased their price objective on Nucor from $67.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $69.37.
Shares of NYSE:NUE opened at $63.18 on Wednesday. The firm has a market cap of $19,991.86, a PE ratio of 18.00, a P/E/G ratio of 0.90 and a beta of 1.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.49 and a quick ratio of 1.18. Nucor has a 52-week low of $51.67 and a 52-week high of $70.48.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Thursday, March 29th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.52 dividend on an annualized basis and a yield of 2.41%. Nucor’s payout ratio is 43.30%.
In other Nucor news, CFO James D. Frias sold 39,037 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $68.31, for a total transaction of $2,666,617.47. Following the sale, the chief financial officer now owns 177,204 shares of the company’s stock, valued at $12,104,805.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the company’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of $65.11, for a total transaction of $520,880.00. Following the sale, the executive vice president now directly owns 78,381 shares in the company, valued at approximately $5,103,386.91. The disclosure for this sale can be found here. Insiders sold 64,350 shares of company stock valued at $4,312,607 over the last 90 days. 0.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in Nucor by 3.2% during the fourth quarter. BlackRock Inc. now owns 22,382,353 shares of the basic materials company’s stock valued at $1,423,070,000 after acquiring an additional 702,355 shares during the last quarter. Luminus Management LLC boosted its position in shares of Nucor by 303.4% during the 4th quarter. Luminus Management LLC now owns 1,654,324 shares of the basic materials company’s stock worth $105,182,000 after purchasing an additional 1,244,185 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Nucor by 5.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,229,908 shares of the basic materials company’s stock worth $78,198,000 after purchasing an additional 61,563 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of Nucor by 24.8% during the 4th quarter. Guggenheim Capital LLC now owns 1,118,852 shares of the basic materials company’s stock worth $71,136,000 after purchasing an additional 222,246 shares in the last quarter. Finally, CI Investments Inc. boosted its position in shares of Nucor by 0.6% during the 4th quarter. CI Investments Inc. now owns 991,906 shares of the basic materials company’s stock worth $63,065,000 after purchasing an additional 6,000 shares in the last quarter. 80.06% of the stock is currently owned by institutional investors and hedge funds.
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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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