Nucor Co. (NYSE:NUE) – Stock analysts at Jefferies Financial Group dropped their Q4 2018 earnings estimates for shares of Nucor in a note issued to investors on Tuesday, January 22nd. Jefferies Financial Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings per share of $1.95 for the quarter, down from their previous forecast of $2.03. Jefferies Financial Group also issued estimates for Nucor’s FY2019 earnings at $6.88 EPS and FY2020 earnings at $5.39 EPS.
NUE has been the topic of several other reports. Zacks Investment Research cut shares of Nucor from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 4th. Deutsche Bank cut shares of Nucor to a “buy” rating in a report on Tuesday, October 2nd. ValuEngine raised shares of Nucor from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Seaport Global Securities started coverage on shares of Nucor in a report on Thursday, October 11th. They issued a “buy” rating and a $75.00 price objective on the stock. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Nucor in a report on Monday, October 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. Nucor currently has a consensus rating of “Buy” and an average price target of $71.58.
Shares of NUE stock opened at $57.70 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 3.15 and a debt-to-equity ratio of 0.42. Nucor has a one year low of $49.79 and a one year high of $70.03. The company has a market cap of $18.44 billion, a P/E ratio of 16.44, a P/E/G ratio of 0.78 and a beta of 1.46.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 11th. Investors of record on Monday, December 31st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, December 28th. This is a boost from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio (DPR) is 45.58%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Empirical Finance LLC bought a new position in Nucor in the 4th quarter valued at about $1,143,000. Boenning & Scattergood Inc. grew its position in Nucor by 8.6% in the 4th quarter. Boenning & Scattergood Inc. now owns 7,663 shares of the basic materials company’s stock valued at $397,000 after buying an additional 604 shares in the last quarter. Empowered Funds LLC bought a new position in Nucor in the 4th quarter valued at about $2,054,000. James Investment Research Inc. grew its position in Nucor by 359.1% in the 4th quarter. James Investment Research Inc. now owns 148,117 shares of the basic materials company’s stock valued at $7,674,000 after buying an additional 115,857 shares in the last quarter. Finally, NuWave Investment Management LLC grew its position in Nucor by 11.8% in the 4th quarter. NuWave Investment Management LLC now owns 4,490 shares of the basic materials company’s stock valued at $232,000 after buying an additional 475 shares in the last quarter. Hedge funds and other institutional investors own 76.36% of the company’s stock.
Nucor Company Profile
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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