Nucor Corp. (NYSE:NUE) declared a quarterly dividend on Thursday, September 15th. Stockholders of record on Friday, September 30th will be paid a dividend of 0.375 per share on Thursday, November 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Wednesday, September 28th.
In other news, insider James R. Darsey sold 71,465 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $52.45, for a total value of $3,748,339.25. Following the completion of the sale, the insider now directly owns 234,135 shares of the company’s stock, valued at approximately $12,280,380.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James D. Frias sold 9,000 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $53.14, for a total transaction of $478,260.00. Following the completion of the sale, the chief financial officer now directly owns 156,065 shares of the company’s stock, valued at $8,293,294.10. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of NUE. SevenBridge Financial Group LLC bought a new stake in Nucor Corp. during the second quarter valued at approximately $114,000. Sunbelt Securities Inc. raised its position in shares of Nucor Corp. by 0.8% in the second quarter. Sunbelt Securities Inc. now owns 2,494 shares of the company’s stock valued at $123,000 after buying an additional 19 shares during the last quarter. Compagnie Lombard Odier SCmA raised its position in shares of Nucor Corp. by 197.8% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,978 shares of the company’s stock valued at $147,000 after buying an additional 1,978 shares during the last quarter. IronBridge Capital Management LP acquired a new position in shares of Nucor Corp. during the second quarter valued at about $246,000. Finally, Pacer Advisors Inc. raised its position in shares of Nucor Corp. by 10.3% in the second quarter. Pacer Advisors Inc. now owns 5,874 shares of the company’s stock valued at $290,000 after buying an additional 547 shares during the last quarter. 77.92% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the stock. Credit Suisse Group AG boosted their target price on shares of Nucor Corp. from $45.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, June 8th. Jefferies Group restated a “buy” rating and issued a $60.00 target price (up previously from $56.00) on shares of Nucor Corp. in a report on Friday, June 10th. Bank of America Corp. restated a “buy” rating on shares of Nucor Corp. in a report on Friday, June 17th. Argus upgraded shares of Nucor Corp. from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Friday, June 24th. Finally, Zacks Investment Research upgraded shares of Nucor Corp. from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $53.14.
Nucor Corp. (NYSE:NUE) opened at 47.87 on Friday. Nucor Corp. has a 1-year low of $33.90 and a 1-year high of $57.08. The stock has a market capitalization of $15.24 billion, a PE ratio of 32.81 and a beta of 1.48. The firm has a 50-day moving average of $49.37 and a 200-day moving average of $49.35.
Nucor Corp. (NYSE:NUE) last posted its earnings results on Thursday, July 21st. The company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Nucor Corp. had a net margin of 3.00% and a return on equity of 8.58%. The firm earned $4.25 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Equities analysts expect that Nucor Corp. will post $2.71 EPS for the current fiscal year.
About Nucor Corp.
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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