Nucor (NYSE:NUE – Free Report) had its price target upped by Barclays from $306.00 to $320.00 in a research report report published on Wednesday,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.
Several other equities research analysts also recently weighed in on NUE. The Goldman Sachs Group reissued a “buy” rating and issued a $335.00 price target on shares of Nucor in a report on Wednesday. UBS Group upped their price objective on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. KeyCorp dropped their price objective on shares of Nucor from $288.00 to $286.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. BMO Capital Markets upped their target price on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley set a $270.00 target price on Nucor in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $284.00.
Get Our Latest Analysis on NUE
Nucor Stock Performance
NUE stock opened at $273.47 on Wednesday. The firm has a market cap of $62.04 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.68 and a beta of 1.84. The firm has a 50-day simple moving average of $253.79 and a two-hundred day simple moving average of $223.43. Nucor has a one year low of $140.93 and a one year high of $280.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.46.
Nucor (NYSE:NUE – Get Free Report) last released its quarterly earnings results on Monday, October 26th. The basic materials company reported $5.80 earnings per share for the quarter, missing analysts’ consensus estimates of $5.84 by ($0.04). Nucor had a net margin of 9.26% and a return on equity of 15.53%. The firm had revenue of $11.25 billion during the quarter, compared to the consensus estimate of $10.84 billion. During the same quarter in the prior year, the business posted $2.63 earnings per share. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. On average, equities analysts forecast that Nucor will post 19.61 EPS for the current fiscal year.
Nucor Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, September 30th. Nucor’s payout ratio is 14.26%.
Insider Buying and Selling at Nucor
In other Nucor news, EVP Noah Hanners sold 5,190 shares of Nucor stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $275.03, for a total transaction of $1,427,405.70. Following the sale, the executive vice president owned 44,073 shares of the company’s stock, valued at $12,121,397.19. The trade was a 10.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas Batterbee sold 4,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the sale, the executive vice president directly owned 16,138 shares of the company’s stock, valued at $4,212,340.76. The trade was a 19.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.62% of the stock is currently owned by corporate insiders.
Institutional Trading of Nucor
A number of hedge funds have recently bought and sold shares of NUE. BlackRock Inc. acquired a new stake in shares of Nucor during the 2nd quarter worth about $4,452,563,000. Bank of America Corp DE purchased a new stake in shares of Nucor during the second quarter worth about $462,886,000. Dimensional Fund Advisors LP raised its position in shares of Nucor by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock valued at $429,298,000 after buying an additional 22,718 shares during the last quarter. Berkshire Hathaway Inc acquired a new position in shares of Nucor in the second quarter valued at approximately $413,814,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Nucor in the second quarter valued at approximately $330,902,000. Institutional investors and hedge funds own 76.48% of the company’s stock.
About Nucor
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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