Nucor (NYSE:NUE) Announces Quarterly Earnings Results

Nucor (NYSE:NUE) released its quarterly earnings results on Monday. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.62 by ($0.16), RTT News reports. Nucor had a net margin of 12.40% and a return on equity of 19.67%. The company had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. During the same period in the prior year, the company earned $4.45 earnings per share. The firm’s revenue was down 6.6% compared to the same quarter last year. Nucor updated its Q2 guidance to below $3.46 EPS.

Nucor Stock Down 1.1 %

Nucor stock traded down $1.88 during midday trading on Wednesday, hitting $172.76. 2,586,621 shares of the stock were exchanged, compared to its average volume of 1,435,945. Nucor has a 52-week low of $129.79 and a 52-week high of $203.00. The stock has a market capitalization of $41.46 billion, a price-to-earnings ratio of 10.15 and a beta of 1.61. The business’s 50-day moving average price is $191.20 and its 200-day moving average price is $174.18. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.25%. The ex-dividend date is Wednesday, March 27th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. BMO Capital Markets decreased their target price on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research report on Wednesday. UBS Group began coverage on shares of Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Finally, StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $193.14.

Insider Buying and Selling

In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the sale, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the transaction, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the transaction, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,151 shares of company stock worth $7,308,683. 0.64% of the stock is owned by insiders.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. 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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.