Posted by admin on Jul 27th, 2022
Nucor Co. (NYSE:NUE – Get Rating) EVP Allen C. Behr sold 3,407 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $122.17, for a total value of $416,233.19. Following the transaction, the executive vice president now directly owns 64,087 shares in the company, valued at $7,829,508.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
NYSE:NUE opened at $123.31 on Wednesday. Nucor Co. has a one year low of $88.50 and a one year high of $187.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.62. The firm has a market cap of $32.81 billion, a price-to-earnings ratio of 3.78 and a beta of 1.30. The firm’s fifty day moving average is $117.74 and its two-hundred day moving average is $127.49.
Nucor (NYSE:NUE – Get Rating) last posted its quarterly earnings results on Thursday, July 21st. The basic materials company reported $9.67 EPS for the quarter, beating the consensus estimate of $9.01 by $0.66. Nucor had a net margin of 21.03% and a return on equity of 57.78%. The company had revenue of $11.79 billion for the quarter, compared to analyst estimates of $11.59 billion. During the same period in the prior year, the company earned $5.04 earnings per share. The firm’s revenue was up 34.2% on a year-over-year basis. Research analysts expect that Nucor Co. will post 30.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Thursday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Wednesday, June 29th. Nucor’s payout ratio is currently 6.14%.
Several hedge funds have recently modified their holdings of the company. Rosenberg Matthew Hamilton boosted its stake in shares of Nucor by 2.8% during the 1st quarter. Rosenberg Matthew Hamilton now owns 2,276 shares of the basic materials company’s stock worth $338,000 after acquiring an additional 63 shares in the last quarter. Grove Bank & Trust boosted its stake in shares of Nucor by 1.2% during the 1st quarter. Grove Bank & Trust now owns 5,641 shares of the basic materials company’s stock worth $839,000 after acquiring an additional 65 shares in the last quarter. Mayflower Financial Advisors LLC boosted its stake in shares of Nucor by 3.0% during the 1st quarter. Mayflower Financial Advisors LLC now owns 2,223 shares of the basic materials company’s stock worth $330,000 after acquiring an additional 65 shares in the last quarter. Advisor Partners LLC boosted its stake in shares of Nucor by 0.7% during the 1st quarter. Advisor Partners LLC now owns 11,380 shares of the basic materials company’s stock worth $1,692,000 after acquiring an additional 78 shares in the last quarter. Finally, Woodard & Co. Asset Management Group Inc. ADV boosted its stake in shares of Nucor by 3.5% during the 1st quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 2,385 shares of the basic materials company’s stock worth $355,000 after acquiring an additional 80 shares in the last quarter. 77.70% of the stock is owned by hedge funds and other institutional investors.
NUE has been the topic of a number of recent analyst reports. Credit Suisse Group upped their price target on Nucor from $142.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, April 22nd. The Goldman Sachs Group cut their target price on Nucor from $148.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 31st. JPMorgan Chase & Co. cut their target price on Nucor from $146.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 14th. Morgan Stanley cut their target price on Nucor from $121.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $133.18.
Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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