Nucor Corp. (NUE) Earns “Hold” Rating from Berenberg Bank
Several other analysts also recently commented on the stock. BMO Capital Markets set a $51.00 price objective on shares of Nucor Corp. and gave the company a hold rating in a research report on Wednesday, September 14th. Jefferies Group decreased their price objective on shares of Nucor Corp. from $60.00 to $55.00 and set a buy rating on the stock in a research report on Thursday, September 15th. Citigroup Inc. assumed coverage on shares of Nucor Corp. in a research report on Monday, August 22nd. They set a neutral rating and a $55.00 price objective on the stock. Cowen and Company raised their target price on shares of Nucor Corp. from $50.00 to $55.00 and gave the company a market perform rating in a research note on Tuesday, July 26th. Finally, JPMorgan Chase & Co. reaffirmed a buy rating and set a $59.50 target price on shares of Nucor Corp. in a research note on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Nucor Corp. has a consensus rating of Buy and a consensus target price of $53.14.
Nucor Corp. (NYSE:NUE) opened at 47.87 on Tuesday. Nucor Corp. has a 52 week low of $33.90 and a 52 week high of $57.08. The company has a market capitalization of $15.24 billion, a P/E ratio of 32.81 and a beta of 1.48. The stock’s 50 day moving average is $49.37 and its 200 day moving average is $49.35.
Nucor Corp. (NYSE:NUE) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.49 billion. Nucor Corp. had a net margin of 3.00% and a return on equity of 8.58%. On average, equities research analysts expect that Nucor Corp. will post $2.71 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, September 30th will be paid a dividend of $0.375 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.50 annualized dividend and a dividend yield of 3.13%. Nucor Corp.’s dividend payout ratio (DPR) is presently 102.04%.
In related news, insider James R. Darsey sold 71,465 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $52.45, for a total transaction of $3,748,339.25. Following the completion of the transaction, the insider now owns 234,135 shares in the company, valued at approximately $12,280,380.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman John J. Ferriola sold 12,128 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $54.12, for a total transaction of $656,367.36. Following the transaction, the chairman now owns 354,420 shares of the company’s stock, valued at approximately $19,181,210.40. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NUE. Nomura Asset Management Co. Ltd. raised its position in Nucor Corp. by 1.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 42,683 shares of the company’s stock valued at $1,720,000 after buying an additional 640 shares during the period. Norges Bank bought a new stake in Nucor Corp. during the fourth quarter valued at $58,595,000. Chevy Chase Trust Holdings Inc. increased its stake in Nucor Corp. by 1.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 268,272 shares of the company’s stock valued at $12,690,000 after buying an additional 4,811 shares in the last quarter. DnB Asset Management AS increased its stake in Nucor Corp. by 20.8% in the first quarter. DnB Asset Management AS now owns 27,298 shares of the company’s stock valued at $1,291,000 after buying an additional 4,700 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Nucor Corp. by 17.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 72,707 shares of the company’s stock valued at $3,439,000 after buying an additional 10,753 shares in the last quarter. Hedge funds and other institutional investors own 77.92% of the company’s stock.
Nucor Corp. Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.
Receive News & Ratings for Nucor Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Corp. and related companies with MarketBeat.com's FREE daily email newsletter.