Posted by admin on Jul 26th, 2022

StockNews.com downgraded shares of Nucor (NYSE:NUE – Get Rating) from a buy rating to a hold rating in a research note published on Monday.

Several other equities research analysts also recently issued reports on NUE. The Goldman Sachs Group dropped their target price on Nucor from $148.00 to $130.00 and set a neutral rating on the stock in a research report on Tuesday, May 31st. JPMorgan Chase & Co. dropped their target price on Nucor from $146.00 to $125.00 and set a neutral rating on the stock in a research report on Tuesday, June 14th. Credit Suisse Group increased their target price on Nucor from $142.00 to $175.00 and gave the stock an outperform rating in a research report on Friday, April 22nd. Argus increased their target price on Nucor from $140.00 to $190.00 and gave the stock a buy rating in a research report on Monday, April 25th. Finally, BMO Capital Markets dropped their target price on Nucor from $168.00 to $128.00 in a research report on Tuesday, May 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $133.18.

Shares of NYSE NUE opened at $122.24 on Monday. The stock has a fifty day simple moving average of $117.78 and a two-hundred day simple moving average of $127.52. Nucor has a 1-year low of $88.50 and a 1-year high of $187.90. The firm has a market cap of $32.52 billion, a price-to-earnings ratio of 3.75 and a beta of 1.30. The company has a current ratio of 2.62, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

Nucor (NYSE:NUE – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The basic materials company reported $9.67 earnings per share for the quarter, beating the consensus estimate of $9.01 by $0.66. The business had revenue of $11.79 billion during the quarter, compared to analyst estimates of $11.59 billion. Nucor had a return on equity of 57.78% and a net margin of 21.03%. Nucor’s revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.04 earnings per share. Analysts anticipate that Nucor will post 30.22 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Thursday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, June 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.64%. Nucor’s payout ratio is 6.14%.

In other Nucor news, CEO Leon J. Topalian sold 48,768 shares of the firm’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $112.61, for a total transaction of $5,491,764.48. Following the sale, the chief executive officer now owns 135,809 shares in the company, valued at $15,293,451.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund raised its position in Nucor by 6.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 146,027 shares of the basic materials company’s stock valued at $15,247,000 after purchasing an additional 8,995 shares in the last quarter. LS Investment Advisors LLC purchased a new stake in Nucor during the second quarter valued at about $68,000. OLD National Bancorp IN raised its position in Nucor by 142.5% during the second quarter. OLD National Bancorp IN now owns 16,576 shares of the basic materials company’s stock valued at $1,731,000 after purchasing an additional 9,741 shares in the last quarter. Walker Asset Management LLC purchased a new stake in Nucor during the second quarter valued at about $1,888,000. Finally, Arkfeld Wealth Strategies L.L.C. grew its stake in shares of Nucor by 7.1% during the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 6,892 shares of the basic materials company’s stock valued at $751,000 after buying an additional 456 shares during the last quarter. Hedge funds and other institutional investors own 77.70% of the company’s stock.

Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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