Several brokerages have updated their recommendations and price targets on shares of Nucor Corp. (NYSE: NUE) in the last few weeks:
- 10/1/2016 – Nucor Corp. had its “buy” rating reaffirmed by analysts at Jefferies Group.
- 9/20/2016 – Nucor Corp. had its “hold” rating reaffirmed by analysts at Berenberg Bank. They now have a $57.50 price target on the stock.
- 9/15/2016 – Nucor Corp. had its price target lowered by analysts at Jefferies Group from $60.00 to $55.00. They now have a “buy” rating on the stock.
- 9/14/2016 – Nucor Corp. was given a new $51.00 price target on by analysts at BMO Capital Markets. They now have a “hold” rating on the stock.
- 8/22/2016 – Nucor Corp. is now covered by analysts at Citigroup Inc.. They set a “neutral” rating and a $55.00 price target on the stock.
Shares of Nucor Corp. (NYSE:NUE) opened at 47.62 on Wednesday. The company’s 50-day moving average is $48.54 and its 200-day moving average is $49.62. Nucor Corp. has a 52 week low of $33.90 and a 52 week high of $57.08. The firm has a market cap of $15.16 billion, a PE ratio of 32.64 and a beta of 1.47.
Nucor Corp. (NYSE:NUE) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.73 EPS for the quarter, beating 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 had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.49 billion. Analysts forecast that Nucor Corp. will post $2.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.15%. Nucor Corp.’s dividend payout ratio is currently 102.04%.
In other news, Chairman John J. Ferriola sold 12,128 shares of Nucor Corp. stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $54.12, for a total transaction of $656,367.36. Following the sale, the chairman now owns 354,420 shares in the company, valued at $19,181,210.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James R. Darsey sold 71,465 shares of Nucor Corp. stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $52.45, for a total transaction of $3,748,339.25. Following the sale, the insider now owns 234,135 shares in the company, valued at approximately $12,280,380.75. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.
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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