Shares of Nucor Co. (NYSE:NUE) have earned an average rating of “Buy” from the fifteen research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $70.38.
A number of equities research analysts have commented on the company. Longbow Research lowered Nucor from a “buy” rating to a “neutral” rating in a research report on Monday, March 11th. Zacks Investment Research lowered Nucor from a “hold” rating to a “strong sell” rating in a research report on Friday, February 1st. Standpoint Research upgraded Nucor from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. ValuEngine downgraded Nucor from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. Finally, Cowen initiated coverage on Nucor in a research note on Tuesday, January 8th. They issued an “outperform” rating and a $62.00 price objective on the stock.
Shares of NYSE NUE traded down $0.50 during trading on Monday, reaching $57.50. The company had a trading volume of 3,601,396 shares, compared to its average volume of 2,431,797. Nucor has a 12 month low of $49.79 and a 12 month high of $68.84. The firm has a market capitalization of $17.52 billion, a PE ratio of 7.55, a price-to-earnings-growth ratio of 0.82 and a beta of 1.50. The company has a current ratio of 3.08, a quick ratio of 1.45 and a debt-to-equity ratio of 0.41.
Nucor (NYSE:NUE) last released its quarterly earnings results on Tuesday, January 29th. The basic materials company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.14. Nucor had a return on equity of 24.57% and a net margin of 9.42%. The firm had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The business’s revenue was up 23.6% on a year-over-year basis. As a group, analysts forecast that Nucor will post 5.9 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, March 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Thursday, March 28th. Nucor’s dividend payout ratio is 21.00%.
In other news, Chairman John J. Ferriola sold 87,719 shares of the business’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $60.35, for a total value of $5,293,841.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.96% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in NUE. Pinnacle Bank acquired a new position in Nucor during the 4th quarter worth approximately $26,000. Lindbrook Capital LLC purchased a new stake in shares of Nucor in the fourth quarter worth approximately $27,000. Ropes Wealth Advisors LLC purchased a new stake in shares of Nucor in the first quarter worth approximately $34,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Nucor in the fourth quarter worth approximately $38,000. Finally, Capital Investment Advisory Services LLC purchased a new stake in shares of Nucor in the fourth quarter worth approximately $39,000. 78.46% of the stock is currently owned by institutional investors.
Nucor Company Profile
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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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