Nucor Corporation (NYSE:NUE) posted its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.06, MarketWatch Earnings reports. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the previous year, the business posted $0.73 earnings per share. The company’s quarterly revenue was up 21.9% compared to the same quarter last year.
Nucor Corporation (NUE) traded up 2.09% during trading on Wednesday, hitting $56.73. 2,521,122 shares of the stock were exchanged. The stock has a market cap of $18.12 billion, a price-to-earnings ratio of 15.93 and a beta of 1.51. The firm’s 50 day moving average price is $58.31 and its 200-day moving average price is $59.41. Nucor Corporation has a 1-year low of $44.81 and a 1-year high of $68.00.
The company also recently declared a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Friday, June 30th were given a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Wednesday, June 28th. Nucor Corporation’s dividend payout ratio is 43.77%.
A number of research firms have recently issued reports on NUE. BidaskClub downgraded shares of Nucor Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Longbow Research reiterated a “buy” rating and issued a $66.00 price objective on shares of Nucor Corporation in a research report on Thursday, July 27th. Cowen and Company reiterated a “market perform” rating and issued a $63.00 price objective (up from $62.00) on shares of Nucor Corporation in a research report on Tuesday, July 25th. Zacks Investment Research downgraded shares of Nucor Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Berenberg Bank reiterated a “buy” rating and issued a $77.50 price objective on shares of Nucor Corporation in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. Nucor Corporation has an average rating of “Buy” and an average price target of $68.76.
In other Nucor Corporation news, insider Leon J. Topalian sold 2,626 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $60.23, for a total transaction of $158,163.98. Following the completion of the sale, the insider now owns 19,610 shares of the company’s stock, valued at approximately $1,181,110.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John J. Ferriola sold 14,941 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $60.17, for a total value of $898,999.97. Following the transaction, the chairman now owns 361,847 shares in the company, valued at approximately $21,772,333.99. The disclosure for this sale can be found here. In the last three months, insiders sold 20,104 shares of company stock valued at $1,213,595. 0.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of NUE. Verition Fund Management LLC boosted its position in Nucor Corporation by 16.3% in the second quarter. Verition Fund Management LLC now owns 18,882 shares of the basic materials company’s stock valued at $1,093,000 after buying an additional 2,653 shares during the last quarter. BW Gestao de Investimentos Ltda. boosted its position in Nucor Corporation by 53.9% in the second quarter. BW Gestao de Investimentos Ltda. now owns 269,350 shares of the basic materials company’s stock valued at $15,587,000 after buying an additional 94,350 shares during the last quarter. Piedmont Investment Advisors LLC boosted its position in Nucor Corporation by 3.6% in the second quarter. Piedmont Investment Advisors LLC now owns 24,643 shares of the basic materials company’s stock valued at $1,426,000 after buying an additional 850 shares during the last quarter. Krilogy Financial LLC boosted its position in Nucor Corporation by 4,594.6% in the second quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,700 shares during the last quarter. Finally, BB&T Investment Services Inc. purchased a new position in Nucor Corporation during the second quarter valued at $543,000. Hedge funds and other institutional investors own 75.99% of the company’s stock.
Nucor Corporation Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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