Several other research firms have also issued reports on NUE. Credit Suisse Group AG boosted their price target on Nucor Corp. from $45.00 to $55.00 and gave the company a neutral rating in a report on Wednesday, June 8th. Bank of America Corp. reissued a buy rating on shares of Nucor Corp. in a report on Friday, June 17th. Argus raised Nucor Corp. from a hold rating to a buy rating and set a $58.00 price target for the company in a report on Friday, June 24th. Zacks Investment Research raised Nucor Corp. from a hold rating to a buy rating and set a $54.00 price target for the company in a report on Monday, June 27th. Finally, Deutsche Bank AG raised Nucor Corp. from a hold rating to a buy rating and boosted their price target for the company from $52.00 to $60.00 in a report on Wednesday, July 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Nucor Corp. currently has a consensus rating of Buy and a consensus target price of $53.14.
Nucor Corp. (NYSE:NUE) opened at 46.17 on Thursday. The company’s 50 day moving average price is $49.68 and its 200-day moving average price is $49.37. Nucor Corp. has a one year low of $33.90 and a one year high of $57.08. The stock has a market capitalization of $14.70 billion, a PE ratio of 31.64 and a beta of 1.48.
Nucor Corp. (NYSE:NUE) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The company earned $4.25 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Nucor Corp. had a return on equity of 8.58% and a net margin of 3.00%. Analysts expect that Nucor Corp. will post $2.71 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, September 30th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a yield of 3.25%. Nucor Corp.’s dividend payout ratio (DPR) is 102.04%.
In related news, CFO James D. Frias sold 9,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $53.14, for a total value of $478,260.00. Following the completion of the transaction, the chief financial officer now owns 156,065 shares in the company, valued at approximately $8,293,294.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James R. Darsey sold 71,465 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $52.45, for a total value of $3,748,339.25. Following the completion of the transaction, the insider now owns 234,135 shares of the company’s stock, valued at approximately $12,280,380.75. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of NUE. Williams Jones & Associates LLC raised its position in shares of Nucor Corp. by 18,811.7% in the second quarter. Williams Jones & Associates LLC now owns 56,735 shares of the company’s stock worth $2,803,000 after buying an additional 56,435 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Nucor Corp. during the second quarter worth about $634,000. Kentucky Retirement Systems purchased a new position in shares of Nucor Corp. during the second quarter worth about $1,336,000. Mason Street Advisors LLC purchased a new position in shares of Nucor Corp. during the second quarter worth about $2,116,000. Finally, Front Street Capital Management Inc. purchased a new position in shares of Nucor Corp. during the second quarter worth about $6,175,000. Institutional investors own 77.92% of the company’s stock.
Nucor Corp. Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.
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