Nucor Co. (NYSE:NUE) declared a quarterly dividend on Tuesday, June 8th, RTT News reports. Stockholders of record on Wednesday, June 30th will be given a dividend of 0.405 per share by the basic materials company on Wednesday, August 11th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.47%.
NUE stock opened at $109.99 on Wednesday. Nucor has a twelve month low of $38.51 and a twelve month high of $110.96. The company has a quick ratio of 2.04, a current ratio of 3.50 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $91.34. The company has a market capitalization of $32.91 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 0.74 and a beta of 1.38.
Nucor (NYSE:NUE) last posted its earnings results on Thursday, April 22nd. The basic materials company reported $3.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.14 by ($0.04). Nucor had a net margin of 7.63% and a return on equity of 14.90%. The company had revenue of $7.02 billion during the quarter, compared to the consensus estimate of $7.39 billion. During the same quarter in the prior year, the business earned $0.99 EPS. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, research analysts expect that Nucor will post 12.02 EPS for the current year.
A number of analysts recently commented on NUE shares. Bank of America upgraded Nucor from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $56.00 to $80.00 in a report on Tuesday, April 20th. Morgan Stanley lifted their price target on Nucor from $71.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 11th. Argus upgraded Nucor from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Friday, March 19th. The Goldman Sachs Group started coverage on Nucor in a report on Friday, April 9th. They set a “buy” rating and a $86.00 price target on the stock. Finally, BMO Capital Markets lifted their price target on Nucor from $86.00 to $110.00 and gave the stock a “market perform” rating in a report on Friday, May 14th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Nucor presently has an average rating of “Buy” and a consensus price target of $69.50.
In other news, EVP Raymond S. Napolitan, Jr. sold 65,789 shares of Nucor stock in a transaction on Monday, May 10th. The stock was sold at an average price of $103.02, for a total value of $6,777,582.78. Following the completion of the transaction, the executive vice president now directly owns 197,703 shares in the company, valued at $20,367,363.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Douglas J. Jellison sold 5,995 shares of Nucor stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $92.62, for a total value of $555,256.90. Following the completion of the transaction, the executive vice president now owns 82,985 shares of the company’s stock, valued at $7,686,070.70. The disclosure for this sale can be found here. Insiders sold 288,865 shares of company stock valued at $24,093,738 over the last three months. Company insiders own 0.71% of the company’s stock.
Nucor Corporation manufactures and sells steel and steel products. It operates through 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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