ValuEngine lowered shares of Nucor (NYSE:NUE) from a hold rating to a sell rating in a report issued on Tuesday morning.
Several other brokerages have also weighed in on NUE. Jefferies Financial Group reiterated a buy rating and issued a $80.00 price objective on shares of Nucor in a research report on Friday, July 13th. Zacks Investment Research lowered Nucor from a buy rating to a hold rating in a research report on Wednesday, May 30th. Macquarie upgraded Nucor from a neutral rating to an outperform rating and set a $75.00 price objective for the company in a research report on Thursday, May 17th. Finally, KeyCorp upgraded Nucor from a sector weight rating to an overweight rating and set a $77.00 price objective for the company in a research report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Nucor presently has an average rating of Buy and a consensus target price of $71.16.
Shares of Nucor stock opened at $63.31 on Tuesday. The company has a market capitalization of $20.13 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 0.70 and a beta of 1.54. Nucor has a fifty-two week low of $51.67 and a fifty-two week high of $70.48. The company has a quick ratio of 1.55, a current ratio of 3.05 and a debt-to-equity ratio of 0.43.
Nucor (NYSE:NUE) last issued its quarterly earnings data on Thursday, July 19th. The basic materials company reported $2.07 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.03). The business had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.47 billion. Nucor had a return on equity of 16.22% and a net margin of 7.58%. The company’s revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 earnings per share. equities research analysts predict that Nucor will post 7.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, September 28th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.40%. Nucor’s dividend payout ratio is currently 43.30%.
In other news, EVP D. Chad Utermark sold 53,483 shares of the firm’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $68.49, for a total transaction of $3,663,050.67. Following the completion of the transaction, the executive vice president now directly owns 155,140 shares in the company, valued at $10,625,538.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Leon J. Topalian sold 3,115 shares of the firm’s stock in a transaction on Thursday, June 21st. The stock was sold at an average price of $64.98, for a total value of $202,412.70. Following the transaction, the insider now owns 43,370 shares of the company’s stock, valued at $2,818,182.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,443 shares of company stock valued at $8,277,404. Company insiders own 0.70% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its position in shares of Nucor by 35.1% during the first quarter. BNP Paribas Arbitrage SA now owns 220,184 shares of the basic materials company’s stock worth $13,451,000 after buying an additional 57,158 shares during the period. Stevens Capital Management LP raised its stake in Nucor by 3,110.6% in the second quarter. Stevens Capital Management LP now owns 130,961 shares of the basic materials company’s stock valued at $8,185,000 after buying an additional 126,882 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Nucor by 1.0% in the second quarter. Janney Montgomery Scott LLC now owns 114,293 shares of the basic materials company’s stock valued at $7,143,000 after buying an additional 1,185 shares in the last quarter. IMS Capital Management raised its stake in Nucor by 326.0% in the second quarter. IMS Capital Management now owns 13,582 shares of the basic materials company’s stock valued at $849,000 after buying an additional 10,394 shares in the last quarter. Finally, D.A. Davidson & CO. increased its position in shares of Nucor by 2.0% during the second quarter. D.A. Davidson & CO. now owns 73,118 shares of the basic materials company’s stock worth $4,570,000 after purchasing an additional 1,441 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.
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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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