Nucor (NYSE:NUE) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Nucor (NYSE:NUE) released its earnings results on Monday. The basic materials company reported $5.80 earnings per share 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 Stock Performance

NYSE:NUE traded down $0.60 during mid-day trading on Monday, hitting $257.51. The stock had a trading volume of 1,584,669 shares, compared to its average volume of 1,534,982. The stock has a market capitalization of $58.42 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 0.64 and a beta of 1.84. The company has a 50 day simple moving average of $252.58 and a 200-day simple moving average of $241.68. Nucor has a 52 week low of $139.21 and a 52 week high of $280.11. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Nucor’s dividend payout ratio (DPR) is 17.86%.

Insider Transactions at Nucor

In other Nucor news, COO Stephen Laxton sold 3,968 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer owned 77,867 shares in the company, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas Batterbee sold 4,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NUE. KeyCorp reduced their price target on shares of Nucor from $288.00 to $286.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. BMO Capital Markets boosted their price objective on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Barclays upped their price objective on Nucor from $295.00 to $306.00 and gave the company an “overweight” rating in a research note on Monday, October 19th. Weiss Ratings upgraded Nucor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 15th. Finally, The Goldman Sachs Group reduced their target price on Nucor from $304.00 to $302.00 and set a “buy” rating on the stock in a report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $276.86.

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.