Nucor Co. (NYSE:NUE) Receives $190.57 Consensus PT from Brokerages

Shares of Nucor Co. (NYSE:NUE) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $190.57.

A number of brokerages recently weighed in on NUE. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley lowered their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets lowered their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd.

Insiders Place Their Bets

In related news, EVP Kenneth Rex Query sold 9,000 shares of Nucor stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at $14,499,436. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nucor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. raised its holdings in Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 89 shares in the last quarter. Chilton Capital Management LLC raised its holdings in Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 65 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Nucor in the 1st quarter worth $28,000. Brown Lisle Cummings Inc. bought a new position in Nucor in the 3rd quarter worth $30,000. Finally, Salomon & Ludwin LLC bought a new position in Nucor in the 1st quarter worth $31,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

NYSE NUE opened at $143.56 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The company has a market capitalization of $34.07 billion, a PE ratio of 13.87 and a beta of 1.55. Nucor has a 52-week low of $133.42 and a 52-week high of $203.00. The company has a 50-day simple moving average of $147.56 and a 200 day simple moving average of $157.04.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the business earned $4.57 earnings per share. On average, research analysts predict that Nucor will post 8.65 EPS for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.