Nucor (NYSE:NUE – Get Free Report) posted its earnings results on Monday. The basic materials company reported $5.80 EPS for the quarter, missing the consensus estimate of $5.84 by ($0.04), Zacks reports. Nucor had a return on equity of 12.73% and a net margin of 7.99%.
Nucor Price Performance
NYSE NUE traded down $0.60 on Monday, reaching $257.51. 1,593,873 shares of the company’s stock traded hands, compared to its average volume of 1,534,982. The stock has a market cap of $58.42 billion, a PE ratio of 20.54, a P/E/G ratio of 0.64 and a beta of 1.84. Nucor has a 12 month low of $139.21 and a 12 month high of $280.11. The stock has a 50-day simple moving average of $252.58 and a 200 day simple moving average of $241.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36.
Nucor Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, September 30th. Nucor’s dividend payout ratio (DPR) is presently 17.86%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on NUE shares. Zacks Research raised shares of Nucor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. JPMorgan Chase & Co. lowered their price objective on shares of Nucor from $308.00 to $296.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Wells Fargo & Company dropped their price objective on shares of Nucor from $285.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, September 18th. BMO Capital Markets upped their target price on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Nucor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $276.86.
Read Our Latest Stock Analysis on Nucor
Insider Buying and Selling
In other news, COO Stephen Laxton sold 3,968 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas Batterbee sold 4,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the sale, the executive vice president owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.62% of the company’s stock.
Nucor Company Profile
Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.
Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.
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