Nucor Co. (NYSE:NUE) has earned a consensus recommendation of “Hold” from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $72.14.
A number of equities research analysts recently weighed in on NUE shares. Goldman Sachs Group started coverage on shares of Nucor in a report on Tuesday, March 20th. They set a “buy” rating and a $78.00 price objective for the company. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Morgan Stanley lifted their price objective on shares of Nucor from $68.00 to $73.00 and gave the company an “equal weight” rating in a report on Tuesday, April 17th. Zacks Investment Research lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Finally, UBS Group started coverage on shares of Nucor in a report on Tuesday, April 17th. They set a “neutral” rating and a $65.00 price objective for the company.
NUE traded up $0.02 on Monday, reaching $66.87. 80,512 shares of the company traded hands, compared to its average volume of 2,150,941. Nucor has a one year low of $51.67 and a one year high of $70.48. The firm has a market capitalization of $21.26 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 0.87 and a beta of 1.55. 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 (NYSE:NUE) last announced its quarterly earnings data on Thursday, April 19th. The basic materials company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. Nucor had a net margin of 6.33% and a return on equity of 12.94%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same quarter last year, the business posted $1.13 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. equities analysts anticipate that Nucor will post 6.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 10th. Stockholders of record on Friday, June 29th will be issued a $0.38 dividend. The ex-dividend date is Thursday, June 28th. This represents a $1.52 annualized dividend and a dividend yield of 2.27%. Nucor’s dividend payout ratio is currently 43.30%.
In other news, Director Victoria F. Haynes sold 1,800 shares of the business’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $60.91, for a total value of $109,638.00. Following the completion of the sale, the director now owns 28,773 shares in the company, valued at approximately $1,752,563.43. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.80% of the company’s stock.
Several large investors have recently bought and sold shares of NUE. BNP Paribas Arbitrage SA raised its stake in shares of Nucor by 35.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 220,184 shares of the basic materials company’s stock worth $13,451,000 after acquiring an additional 57,158 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Nucor by 32.6% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 20,345 shares of the basic materials company’s stock worth $1,294,000 after acquiring an additional 5,000 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Nucor during the 4th quarter worth approximately $6,254,000. State of Tennessee Treasury Department raised its stake in shares of Nucor by 44.6% during the 4th quarter. State of Tennessee Treasury Department now owns 125,576 shares of the basic materials company’s stock worth $7,984,000 after acquiring an additional 38,761 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Nucor by 149.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 82,459 shares of the basic materials company’s stock worth $5,242,000 after acquiring an additional 49,410 shares in the last quarter. Institutional investors and hedge funds own 77.75% of the company’s stock.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates in three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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