Nucor Corp. (NYSE:NUE) has been assigned an average recommendation of “Buy” from the twenty-three brokerages that are presently covering the firm. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $52.89.
Several equities research analysts have issued reports on NUE shares. Jefferies Group lowered their price target on shares of Nucor Corp. from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, September 15th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $59.50 price target on shares of Nucor Corp. in a research note on Friday, July 22nd. Zacks Investment Research upgraded shares of Nucor Corp. from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Monday, June 27th. Argus upgraded shares of Nucor Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Friday, June 24th. Finally, Bank of America Corp. restated a “buy” rating on shares of Nucor Corp. in a research note on Friday, June 17th.
Nucor Corp. (NYSE:NUE) opened at 47.40 on Friday. The firm has a market capitalization of $15.09 billion, a P/E ratio of 32.49 and a beta of 1.47. Nucor Corp. has a 1-year low of $33.90 and a 1-year high of $57.08. The stock has a 50 day moving average of $48.14 and a 200-day moving average of $49.65.
Nucor Corp. (NYSE:NUE) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the 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. On average, equities research analysts anticipate that Nucor Corp. will post $2.67 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Wednesday, September 28th. Nucor Corp.’s payout ratio is presently 102.04%.
In other news, Chairman John J. Ferriola sold 12,128 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $54.12, for a total value of $656,367.36. Following the completion of the transaction, the chairman now directly owns 354,420 shares in the company, valued at approximately $19,181,210.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James R. Darsey sold 71,465 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $52.45, for a total transaction of $3,748,339.25. Following the transaction, the insider now owns 234,135 shares of the company’s stock, valued at $12,280,380.75. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Blue Chip Partners Inc. bought a new position in Nucor Corp. during the second quarter worth about $102,000. Tuttle Tactical Management LLC bought a new position in Nucor Corp. during the second quarter worth about $116,000. NEXT Financial Group Inc boosted its position in Nucor Corp. by 4.5% in the second quarter. NEXT Financial Group Inc now owns 2,310 shares of the company’s stock worth $114,000 after buying an additional 100 shares in the last quarter. SevenBridge Financial Group LLC bought a new position in Nucor Corp. during the second quarter worth about $114,000. Finally, Sunbelt Securities Inc. boosted its position in Nucor Corp. by 0.8% in the second quarter. Sunbelt Securities Inc. now owns 2,494 shares of the company’s stock worth $123,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 77.91% 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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