BMO Capital Markets set a $62.00 price objective on Nucor Corporation (NYSE:NUE) in a research note published on Friday morning. The brokerage currently has a hold rating on the basic materials company’s stock.
NUE has been the subject of a number of other reports. Credit Suisse Group cut their target price on shares of Nucor Corporation from $68.00 to $63.00 and set a buy rating for the company in a report on Thursday, September 28th. ValuEngine lowered shares of Nucor Corporation from a buy rating to a hold rating in a report on Friday, September 1st. KeyCorp reissued a hold rating on shares of Nucor Corporation in a report on Tuesday, September 19th. Cowen and Company raised their target price on shares of Nucor Corporation from $57.00 to $63.00 and gave the company a market perform rating in a report on Monday, October 23rd. Finally, Morgan Stanley lowered shares of Nucor Corporation from an overweight rating to an equal weight rating and cut their target price for the company from $78.00 to $60.00 in a report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $67.32.
Nucor Corporation (NYSE:NUE) opened at $55.56 on Friday. Nucor Corporation has a fifty-two week low of $51.67 and a fifty-two week high of $68.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12. The firm has a market cap of $17,420.00, a price-to-earnings ratio of 16.12, a P/E/G ratio of 1.23 and a beta of 1.59.
Nucor Corporation (NYSE:NUE) last posted its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Nucor Corporation had a net margin of 5.80% and a return on equity of 12.78%. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the firm posted $0.88 earnings per share. Nucor Corporation’s revenue for the quarter was up 20.5% compared to the same quarter last year. research analysts predict that Nucor Corporation will post 3.7 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, September 29th were given a dividend of $0.3775 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.51 annualized dividend and a dividend yield of 2.72%. Nucor Corporation’s dividend payout ratio (DPR) is 42.06%.
In other news, insider Ladd R. Hall sold 17,583 shares of Nucor Corporation stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the completion of the sale, the insider now directly owns 206,406 shares in the company, valued at $11,959,163.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of Nucor Corporation stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the sale, the director now owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,217 shares of company stock valued at $2,608,231. Corporate insiders own 0.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in NUE. Mckinley Capital Management LLC Delaware bought a new stake in shares of Nucor Corporation during the second quarter worth $100,000. Krilogy Financial LLC raised its holdings in shares of Nucor Corporation by 4,594.6% in the second quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 1,700 shares in the last quarter. Washington Trust Bank raised its holdings in shares of Nucor Corporation by 60.2% in the second quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 660 shares in the last quarter. Fiduciary Trust Co. bought a new stake in shares of Nucor Corporation in the second quarter valued at about $109,000. Finally, Sun Life Financial INC raised its holdings in shares of Nucor Corporation by 23,290.0% in the second quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock valued at $135,000 after acquiring an additional 2,329 shares in the last quarter. Institutional investors and hedge funds own 74.92% of the company’s stock.
Nucor Corporation Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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