Nucor Co. (NYSE:NUE) – Research analysts at KeyCorp issued their Q2 2018 earnings per share estimates for shares of Nucor in a report issued on Monday, April 23rd. KeyCorp analyst P. Gibbs forecasts that the basic materials company will earn $2.08 per share for the quarter.
Other equities analysts have also issued reports about the company. Goldman Sachs initiated coverage on Nucor in a research note on Tuesday, March 20th. They issued a “buy” rating and a $78.00 target price on the stock. ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Bank of America set a $75.00 target price on Nucor and gave the stock a “buy” rating in a research note on Monday, January 8th. Jefferies Group restated a “buy” rating and issued a $76.00 target price on shares of Nucor in a research note on Wednesday, January 31st. Finally, Morgan Stanley upped their target price on Nucor from $68.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Nucor presently has a consensus rating of “Buy” and a consensus target price of $69.37.
Nucor (NYSE:NUE) last announced its earnings results on Thursday, April 19th. The basic materials company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.50 billion. Nucor had a return on equity of 12.94% and a net margin of 6.33%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.52 annualized dividend and a dividend yield of 2.41%. Nucor’s dividend payout ratio (DPR) is presently 43.30%.
In related news, Chairman John J. Ferriola sold 14,313 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $64.12, for a total transaction of $917,749.56. Following the completion of the sale, the chairman now directly owns 333,775 shares in the company, valued at approximately $21,401,653. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James D. Frias sold 39,037 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $68.31, for a total value of $2,666,617.47. Following the sale, the chief financial officer now owns 177,204 shares of the company’s stock, valued at $12,104,805.24. The disclosure for this sale can be found here. Insiders have sold a total of 64,350 shares of company stock worth $4,312,607 over the last quarter. Corporate insiders own 0.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Green Square Capital LLC boosted its holdings in Nucor by 68.6% during the 4th quarter. Green Square Capital LLC now owns 133,723 shares of the basic materials company’s stock valued at $8,553,000 after acquiring an additional 54,431 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Nucor by 7.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 49,802 shares of the basic materials company’s stock valued at $3,166,000 after acquiring an additional 3,464 shares during the period. D.B. Root & Company LLC purchased a new stake in Nucor during the 4th quarter valued at about $394,000. Xact Kapitalforvaltning AB boosted its holdings in Nucor by 16.2% during the 4th quarter. Xact Kapitalforvaltning AB now owns 30,276 shares of the basic materials company’s stock valued at $1,925,000 after acquiring an additional 4,220 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Nucor by 149.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 82,459 shares of the basic materials company’s stock valued at $5,242,000 after acquiring an additional 49,410 shares during the period. Institutional investors own 80.06% of the company’s stock.
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Nucor 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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