NUE has been the topic of a number of other research reports. Macquarie began coverage on Nucor Corporation in a report on Wednesday, September 6th. They issued a neutral rating and a $57.00 target price on the stock. ValuEngine cut Nucor Corporation from a buy rating to a hold rating in a research note on Friday, September 1st. Jefferies Group LLC set a $68.00 price objective on Nucor Corporation and gave the stock a buy rating in a research note on Monday, August 21st. Longbow Research restated a buy rating and set a $66.00 price objective on shares of Nucor Corporation in a research note on Thursday, July 27th. Finally, BMO Capital Markets set a $70.00 price objective on Nucor Corporation and gave the stock a hold rating in a research note on Saturday, August 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $68.00.
Shares of Nucor Corporation (NYSE:NUE) opened at 55.11 on Tuesday. The stock has a market cap of $17.60 billion, a P/E ratio of 15.47 and a beta of 1.53. Nucor Corporation has a one year low of $45.30 and a one year high of $68.00. The firm’s 50-day moving average price is $55.28 and its 200 day moving average price is $58.29.
Nucor Corporation (NYSE:NUE) last issued its earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.06). Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the previous year, the business posted $0.73 EPS. Nucor Corporation’s revenue was up 21.9% compared to the same quarter last year. Equities research analysts expect that Nucor Corporation will post $3.96 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, September 28th. Nucor Corporation’s dividend payout ratio is currently 43.77%.
In related news, Chairman John J. Ferriola sold 14,941 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $60.17, for a total value of $898,999.97. Following the completion of the sale, the chairman now directly owns 361,847 shares of the company’s stock, valued at $21,772,333.99. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David A. Sumoski sold 2,537 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total value of $156,431.42. Following the completion of the sale, the insider now directly owns 62,434 shares of the company’s stock, valued at $3,849,680.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,104 shares of company stock valued at $1,213,595. 0.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in NUE. BlackRock Inc. increased its holdings in Nucor Corporation by 1,900.5% in the first quarter. BlackRock Inc. now owns 21,654,414 shares of the basic materials company’s stock valued at $1,293,202,000 after buying an additional 20,571,970 shares during the last quarter. Vanguard Group Inc. increased its holdings in Nucor Corporation by 17.3% in the first quarter. Vanguard Group Inc. now owns 25,254,158 shares of the basic materials company’s stock valued at $1,508,179,000 after buying an additional 3,729,281 shares during the last quarter. Pioneer Investment Management Inc. increased its holdings in Nucor Corporation by 437.2% in the second quarter. Pioneer Investment Management Inc. now owns 1,813,506 shares of the basic materials company’s stock valued at $104,947,000 after buying an additional 1,475,935 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Nucor Corporation by 1,351.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,207,726 shares of the basic materials company’s stock valued at $72,124,000 after buying an additional 1,124,541 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Nucor Corporation by 53.6% in the first quarter. AQR Capital Management LLC now owns 2,513,579 shares of the basic materials company’s stock valued at $150,111,000 after buying an additional 877,194 shares during the last quarter. 74.86% of the stock is owned by hedge funds and other institutional investors.
Nucor Corporation 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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