Key Points
- Nucor EVP Randy Spicer sold 2,500 shares on May 18 at an average price of $225, for proceeds of $562,500. After the sale, he still held 20,510 shares, a 10.86% reduction in his position.
- The company recently reported stronger-than-expected quarterly results, with EPS of $3.23 beating estimates by $0.41 and revenue of $9.50 billion topping forecasts. Revenue rose 21.3% year over year.
- Nucor is returning capital to shareholders through a quarterly dividend of $0.56 per share and a $4 billion stock buyback authorization. Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average target price of $245.45.
Nucor Corporation (NYSE:NUE - Get Free Report) EVP Randy Spicer sold 2,500 shares of Nucor stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $225.00, for a total value of $562,500.00. Following the sale, the executive vice president owned 20,510 shares in the company, valued at $4,614,750. This trade represents a 10.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Nucor Stock Up 1.7%
NUE opened at $225.56 on Thursday. The business's 50-day simple moving average is $193.75 and its 200-day simple moving average is $176.66. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. Nucor Corporation has a one year low of $106.21 and a one year high of $235.45. The stock has a market capitalization of $51.37 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 0.60 and a beta of 1.87.
Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The business had revenue of $9.50 billion for the quarter, compared to analysts' expectations of $8.88 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business's revenue was up 21.3% compared to the same quarter last year. Analysts anticipate that Nucor Corporation will post 14.58 EPS for the current year.
Nucor Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Tuesday, March 31st were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, March 31st. Nucor's payout ratio is 22.18%.
Nucor declared that its Board of Directors has initiated a stock buyback plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 9.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.
Hedge Funds Weigh In On Nucor
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. RKL Wealth Management LLC increased its position in Nucor by 0.9% during the 1st quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company's stock worth $899,000 after purchasing an additional 48 shares during the period. Empirical Asset Management LLC increased its position in Nucor by 2.6% during the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company's stock worth $347,000 after purchasing an additional 54 shares during the period. Krilogy Financial LLC increased its position in Nucor by 4.1% during the 4th quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company's stock worth $272,000 after purchasing an additional 61 shares during the period. Bartlett & CO. Wealth Management LLC increased its position in Nucor by 49.2% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock worth $32,000 after purchasing an additional 63 shares during the period. Finally, IHT Wealth Management LLC increased its position in Nucor by 2.0% during the 4th quarter. IHT Wealth Management LLC now owns 3,306 shares of the basic materials company's stock worth $539,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 76.48% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on NUE. BNP Paribas Exane boosted their price target on Nucor from $210.00 to $248.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Zacks Research upgraded Nucor from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. boosted their price target on Nucor from $212.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, April 29th. BMO Capital Markets boosted their price target on Nucor from $196.00 to $235.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company boosted their price target on Nucor from $213.00 to $244.00 and gave the company an "overweight" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $245.45.
Check Out Our Latest Report on Nucor
Nucor Company Profile
(
Get Free Report)
Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor's operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.
Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.
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