Key Points
- Insider Michael Keller sold 1,136 Nucor shares for about $317,319 at an average price of $279.33, reducing his holdings by 6.79% to 15,588 shares.
- Nucor’s third-quarter revenue increased 32% year over year to $11.25 billion, exceeding estimates, while EPS of $5.80 narrowly missed consensus by $0.04.
- Nucor declared a quarterly dividend of $0.56 per share, equivalent to an annualized $2.24 and a 0.8% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $286.44.
Nucor Corporation (NYSE:NUE - Get Free Report) insider Michael Keller sold 1,136 shares of the company's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $279.33, for a total transaction of $317,318.88. Following the transaction, the insider owned 15,588 shares of the company's stock, valued at $4,354,196.04. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Nucor Stock Performance
NUE opened at $273.38 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The company has a market cap of $62.03 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 0.68 and a beta of 1.81. Nucor Corporation has a 52-week low of $140.93 and a 52-week high of $287.70. The firm's fifty day simple moving average is $255.05 and its two-hundred day simple moving average is $224.47.
Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, October 26th. The basic materials company reported $5.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.84 by ($0.04). The company had revenue of $11.25 billion during the quarter, compared to analyst estimates of $10.84 billion. Nucor had a net margin of 9.26% and a return on equity of 15.53%. The firm's revenue for the quarter was up 32.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.63 EPS. Equities analysts anticipate that Nucor Corporation will post 19.61 earnings per share for the current fiscal year.
Nucor Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. Nucor's dividend payout ratio (DPR) is currently 14.26%.
Hedge Funds Weigh In On Nucor
A number of institutional investors and hedge funds have recently bought and sold shares of NUE. California Public Employees Retirement System boosted its holdings in shares of Nucor by 19.3% during the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company's stock worth $86,297,000 after purchasing an additional 82,668 shares during the last quarter. Tidal Investments LLC grew its position in shares of Nucor by 31.2% in the second quarter. Tidal Investments LLC now owns 61,952 shares of the basic materials company's stock valued at $13,800,000 after purchasing an additional 14,736 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Nucor in the second quarter valued at approximately $7,954,000. BIP Wealth LLC purchased a new stake in shares of Nucor in the second quarter valued at approximately $852,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Nucor by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company's stock valued at $306,054,000 after purchasing an additional 29,476 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.
Key Nucor News
Here are the key news stories impacting Nucor this week:
- Positive Sentiment: Nucor’s third-quarter revenue rose 32% year over year to $11.25 billion, topping estimates, while earnings per share of $5.80 came in just below consensus. Fourth-quarter guidance was described as steady to slightly better than recent results. Article: Nucor Could Be 5% Undervalued After Strong Earnings And Steady Guidance
- Positive Sentiment: A strong balance sheet and cash flow are supporting shareholder returns—reported at $1.36 billion—and leave room for continued investment, buybacks and dividend growth. Article: Can NUE's Strong Balance Sheet Power Bigger Shareholder Returns Ahead?
- Neutral Sentiment: Despite the quarterly EPS miss, revenue exceeded expectations, and the results point to substantial year-over-year improvement. The mixed beat-and-miss may temper the otherwise positive earnings read-through.
- Negative Sentiment: Two executives recently disclosed stock sales: EVP Allen Behr sold 11,846 shares, reducing his holdings by 16.95%, and Michael Keller sold 1,136 shares, trimming his position by 6.79%. Insider sales can be planned or personal, but may add near-term caution among investors. SEC filing for Allen Behr sale SEC filing for Michael Keller sale
Analyst Ratings Changes
Several research firms have commented on NUE. JPMorgan Chase & Co. boosted their price objective on Nucor from $296.00 to $304.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 28th. Citigroup restated a "buy" rating on shares of Nucor in a research report on Wednesday, July 29th. Bank of America decreased their target price on Nucor from $290.00 to $280.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. UBS Group lifted their price target on Nucor from $224.00 to $256.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $335.00 price target on shares of Nucor in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $286.44.
View Our Latest Stock Analysis on NUE
Nucor Company Profile
(
Get Free Report)
Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.
Nucor's operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.
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