Nucor (NYSE:NUE) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.50-0.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.76.
Several analysts recently issued reports on the stock. BMO Capital Markets restated a market perform rating and issued a $62.00 price objective (down from $70.00) on shares of Nucor in a report on Monday, September 18th. KeyCorp restated a hold rating on shares of Nucor in a report on Thursday, October 19th. Bank of America restated a buy rating and issued a $73.00 price objective on shares of Nucor in a report on Wednesday, September 6th. Morgan Stanley lowered shares of Nucor from an overweight rating to an equal weight rating and reduced their price objective for the company from $78.00 to $60.00 in a report on Tuesday, September 12th. Finally, Jefferies Group restated a buy rating on shares of Nucor in a report on Saturday, September 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $66.80.
Shares of Nucor (NYSE:NUE) traded down $0.10 during trading hours on Thursday, reaching $61.85. 2,951,100 shares of the company’s stock were exchanged, compared to its average volume of 2,711,318. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12. The stock has a market capitalization of $19,370.00, a price-to-earnings ratio of 18.22, a PEG ratio of 1.40 and a beta of 1.58. Nucor has a one year low of $51.67 and a one year high of $66.00.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, December 28th. This is a positive change from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 dividend on an annualized basis and a yield of 2.46%. Nucor’s dividend payout ratio is 42.06%.
In related news, insider Ladd R. Hall sold 17,583 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the sale, the insider now directly owns 206,406 shares in the company, valued at $11,959,163.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider D. Chad Utermark sold 9,003 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $59.72, for a total transaction of $537,659.16. Following the sale, the insider now owns 73,883 shares in the company, valued at $4,412,292.76. The disclosure for this sale can be found here. Insiders have sold 44,217 shares of company stock worth $2,608,231 over the last quarter. Insiders own 0.70% 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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