Nucor (NYSE:NUE) Hits New 52-Week Low – Time to Sell?

Nucor Co. (NYSE:NUE) hit a new 52-week low during trading on Friday . The stock traded as low as $113.25 and last traded at $113.56, with a volume of 119486 shares. The stock had previously closed at $114.48.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NUE. The Goldman Sachs Group assumed coverage on shares of Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 target price on the stock. UBS Group reissued a “neutral” rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. Citigroup lowered their price target on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, 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. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.75.

Nucor Stock Performance

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 firm’s 50-day moving average price is $139.23 and its two-hundred day moving average price is $146.96. The stock has a market cap of $27.11 billion, a price-to-earnings ratio of 11.15 and a beta of 1.60.

Nucor (NYSE:NUE) last posted its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion for 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%. Nucor’s revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the business posted $4.57 EPS. On average, analysts expect that Nucor Co. will post 8.48 EPS for the current fiscal year.

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be given a $0.55 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.91%. This is an increase from Nucor’s previous quarterly dividend of $0.54. Nucor’s payout ratio is currently 21.26%.

Insider Transactions at Nucor

In related news, EVP Allen C. Behr sold 4,968 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the transaction, the executive vice president now owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of Nucor stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the sale, the chief executive officer now owns 172,136 shares of the company’s stock, valued at $29,109,918.96. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nucor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Everence Capital Management Inc. purchased a new stake in Nucor during the fourth quarter worth about $565,000. Versant Capital Management Inc grew its holdings in shares of Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 114 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Nucor by 3.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 4,097 shares of the basic materials company’s stock worth $621,000 after buying an additional 123 shares during the period. Synovus Financial Corp lifted its holdings in Nucor by 4.6% during the 3rd quarter. Synovus Financial Corp now owns 19,075 shares of the basic materials company’s stock worth $2,868,000 after buying an additional 833 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in Nucor by 9.6% in the 3rd quarter. Tidal Investments LLC now owns 36,493 shares of the basic materials company’s stock valued at $5,486,000 after buying an additional 3,197 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

About Nucor

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.