Nucor (NYSE:NUE) Releases Q1 Earnings Guidance

Nucor (NYSE:NUE) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.55-3.65 for the period, compared to the consensus estimate of $3.74.

Nucor Stock Down 1.1 %

NYSE:NUE traded down $2.01 during trading hours on Thursday, reaching $182.09. The company’s stock had a trading volume of 1,478,500 shares, compared to its average volume of 1,505,300. The company has a market cap of $43.84 billion, a price-to-earnings ratio of 10.13 and a beta of 1.61. Nucor has a one year low of $129.79 and a one year high of $195.00. The business’s 50-day moving average is $180.57 and its 200-day moving average is $167.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.33. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The business’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.89 EPS. Equities research analysts predict that Nucor will post 13.47 EPS for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s dividend payout ratio is currently 12.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NUE. Citigroup raised shares of Nucor from a neutral rating to a buy rating and upped their price objective for the company from $180.00 to $240.00 in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Nucor from $151.00 to $158.00 and gave the stock a neutral rating in a research report on Tuesday, December 12th. UBS Group assumed coverage on shares of Nucor in a research report on Tuesday, January 16th. They issued a buy rating and a $210.00 price target for the company. Finally, StockNews.com lowered shares of Nucor from a buy rating to a hold rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $186.67.

Insiders Place Their Bets

In other news, Director Nicholas C. Gangestad acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, December 19th. The shares were purchased at an average cost of $176.61 per share, with a total value of $176,610.00. Following the completion of the purchase, the director now owns 1,000 shares of the company’s stock, valued at $176,610. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Nicholas C. Gangestad purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were acquired at an average cost of $176.61 per share, with a total value of $176,610.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $176,610. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Leon J. Topalian sold 15,000 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $176.28, for a total transaction of $2,644,200.00. Following the sale, the chief executive officer now directly owns 140,558 shares in the company, valued at $24,777,564.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,330 shares of company stock valued at $13,672,548. 0.46% of the stock is currently owned by insiders.

Institutional Trading of Nucor

Several hedge funds have recently modified their holdings of the stock. Grayhawk Investment Strategies Inc. bought a new position in Nucor in the fourth quarter valued at approximately $143,000. West Tower Group LLC bought a new position in Nucor in the fourth quarter valued at approximately $132,000. Main Street Group LTD bought a new position in Nucor in the fourth quarter valued at approximately $131,000. ICA Group Wealth Management LLC bought a new position in Nucor in the fourth quarter valued at approximately $101,000. Finally, MUFG Americas Holdings Corp boosted its stake in Nucor by 71.4% in the third quarter. MUFG Americas Holdings Corp now owns 840 shares of the basic materials company’s stock valued at $90,000 after acquiring an additional 350 shares during the last quarter. 77.76% of the stock is owned by institutional investors.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. 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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.