Nucor Co. (NYSE:NUE) CEO Leon J. Topalian sold 9,389 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $43.18, for a total transaction of $405,417.02. Following the sale, the chief executive officer now directly owns 118,090 shares of the company’s stock, valued at $5,099,126.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Nucor stock opened at $41.95 on Friday. The stock has a market capitalization of $12.63 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 1.69 and a beta of 1.43. Nucor Co. has a twelve month low of $27.52 and a twelve month high of $58.70. The company has a quick ratio of 2.68, a current ratio of 4.39 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $41.60 and a 200-day moving average of $41.88.
Nucor (NYSE:NUE) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.22. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Nucor had a net margin of 2.49% and a return on equity of 7.95%. The business’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 earnings per share. Equities analysts anticipate that Nucor Co. will post 2.1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be issued a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Monday, June 29th. Nucor’s dividend payout ratio (DPR) is presently 37.35%.
Several institutional investors have recently added to or reduced their stakes in the company. National Asset Management Inc. boosted its holdings in Nucor by 15.3% during the second quarter. National Asset Management Inc. now owns 8,271 shares of the basic materials company’s stock worth $343,000 after purchasing an additional 1,100 shares during the last quarter. Sigma Planning Corp boosted its holdings in Nucor by 10.1% during the second quarter. Sigma Planning Corp now owns 12,022 shares of the basic materials company’s stock worth $498,000 after purchasing an additional 1,104 shares during the last quarter. Sigma Investment Counselors Inc. boosted its holdings in Nucor by 9.4% during the second quarter. Sigma Investment Counselors Inc. now owns 39,153 shares of the basic materials company’s stock worth $1,621,000 after purchasing an additional 3,362 shares during the last quarter. Ballentine Partners LLC bought a new stake in Nucor during the second quarter worth $214,000. Finally, Mackay Shields LLC raised its position in Nucor by 3.6% during the second quarter. Mackay Shields LLC now owns 48,413 shares of the basic materials company’s stock worth $2,005,000 after acquiring an additional 1,661 shares in the last quarter. Institutional investors own 75.06% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Credit Suisse Group downgraded shares of Nucor from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 15th. KeyCorp boosted their price target on shares of Nucor from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. UBS Group dropped their price target on shares of Nucor from $56.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. BMO Capital Markets upped their target price on shares of Nucor from $42.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, June 19th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. lowered their target price on shares of Nucor from $57.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $50.17.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates in three segments: Steel Mills, Steel Products, and Raw Materials. The 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; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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