Nucor Co. (NYSE:NUE - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $130.26, but opened at $136.80. Nucor shares last traded at $136.90, with a volume of 1,357,284 shares trading hands.
Analyst Ratings Changes
A number of research analysts have commented on NUE shares. Jefferies Financial Group increased their price target on shares of Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on shares of Nucor from $152.00 to $150.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Citigroup lowered their price objective on shares of Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Morgan Stanley decreased their target price on Nucor from $166.00 to $154.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They issued a "buy" rating and a $190.00 price target on the stock. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Nucor currently has an average rating of "Moderate Buy" and a consensus price target of $163.13.
View Our Latest Report on Nucor
Nucor Stock Performance
The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The company has a market cap of $31.84 billion, a PE ratio of 16.13 and a beta of 1.60. The firm's fifty day moving average is $125.19 and its 200 day moving average is $140.66.
Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same quarter in the prior year, the business posted $3.16 earnings per share. As a group, research analysts predict that Nucor Co. will post 7.88 EPS for the current fiscal year.
Nucor Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st were given a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.62%. This is an increase from Nucor's previous quarterly dividend of $0.54. Nucor's dividend payout ratio (DPR) is presently 26.16%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Widmann Financial Services Inc. grew its holdings in Nucor by 4.0% during the 3rd quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company's stock worth $271,000 after acquiring an additional 70 shares in the last quarter. Salomon & Ludwin LLC grew its stake in shares of Nucor by 45.6% in the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock worth $35,000 after purchasing an additional 72 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in Nucor by 1.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company's stock valued at $822,000 after buying an additional 74 shares in the last quarter. Horrell Capital Management Inc. increased its stake in Nucor by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company's stock valued at $3,111,000 after buying an additional 76 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its stake in shares of Nucor by 1.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 4,629 shares of the basic materials company's stock worth $696,000 after acquiring an additional 79 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.
About Nucor
(
Get Free Report)
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.
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