Nucor Corporation (NYSE:NUE) has received an average recommendation of “Buy” from the nineteen analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $68.29.
NUE has been the subject of several recent analyst reports. Jefferies Group LLC restated a “buy” rating and set a $75.00 price objective (down previously from $77.00) on shares of Nucor Corporation in a research report on Wednesday, April 19th. Barclays PLC restated a “buy” rating and set a $68.00 price objective (up previously from $67.00) on shares of Nucor Corporation in a research report on Thursday, April 20th. BMO Capital Markets reiterated a “hold” rating on shares of Nucor Corporation in a research report on Friday, April 21st. Macquarie upgraded shares of Nucor Corporation from an “underperform” rating to a “neutral” rating and upped their price target for the company from $55.00 to $62.00 in a research report on Monday, April 24th. Finally, Longbow Research initiated coverage on shares of Nucor Corporation in a research report on Tuesday, May 9th. They issued a “neutral” rating for the company.
In other news, Chairman John J. Ferriola sold 14,941 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the transaction, the chairman now directly owns 361,847 shares of the company’s stock, valued at approximately $21,772,333.99. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Leon J. Topalian sold 2,626 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $60.23, for a total transaction of $158,163.98. Following the transaction, the insider now directly owns 19,610 shares in the company, valued at $1,181,110.30. The disclosure for this sale can be found here. Insiders sold a total of 20,104 shares of company stock worth $1,213,595 over the last three months. 0.70% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of NUE. Achmea Investment Management B.V. bought a new position in Nucor Corporation during the first quarter worth $4,047,000. Main Street Research LLC boosted its position in Nucor Corporation by 1.4% in the first quarter. Main Street Research LLC now owns 184,720 shares of the basic materials company’s stock worth $11,031,000 after buying an additional 2,489 shares during the period. Suntrust Banks Inc. boosted its position in Nucor Corporation by 5.3% in the first quarter. Suntrust Banks Inc. now owns 148,786 shares of the basic materials company’s stock worth $8,884,000 after buying an additional 7,440 shares during the period. Legal & General Group Plc boosted its position in Nucor Corporation by 2.5% in the first quarter. Legal & General Group Plc now owns 1,590,410 shares of the basic materials company’s stock worth $94,975,000 after buying an additional 38,454 shares during the period. Finally, Savant Capital LLC boosted its position in Nucor Corporation by 1.3% in the first quarter. Savant Capital LLC now owns 4,281 shares of the basic materials company’s stock worth $256,000 after buying an additional 55 shares during the period. 76.57% of the stock is currently owned by institutional investors and hedge funds.
Nucor Corporation (NYSE:NUE) traded down 2.07% during mid-day trading on Friday, hitting $55.37. 2,180,700 shares of the stock were exchanged. Nucor Corporation has a 52-week low of $44.81 and a 52-week high of $68.00. The company has a 50 day moving average price of $58.42 and a 200 day moving average price of $59.51. The firm has a market cap of $17.69 billion, a price-to-earnings ratio of 15.54 and a beta of 1.51.
Nucor Corporation (NYSE:NUE) last issued its quarterly earnings data on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.06 by $0.06. The company had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.08 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. On average, analysts anticipate that Nucor Corporation will post $4.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Friday, June 30th were paid a $0.3775 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.51 annualized dividend and a yield of 2.73%. Nucor Corporation’s dividend payout ratio is currently 43.77%.
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About Nucor Corporation
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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