A number of other equities analysts have also recently issued reports on NUE. Cowen restated a market perform rating and issued a $63.00 price objective (up previously from $62.00) on shares of Nucor in a research note on Tuesday, July 25th. Longbow Research restated a buy rating and issued a $66.00 price objective on shares of Nucor in a research note on Thursday, July 27th. KeyCorp reiterated a hold rating on shares of Nucor in a research report on Thursday, October 19th. Citigroup set a $66.00 target price on shares of Nucor and gave the stock a buy rating in a research report on Friday, October 20th. Finally, Credit Suisse Group increased their target price on shares of Nucor from $63.00 to $67.00 and gave the stock an outperform rating in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $67.32.
Shares of Nucor (NYSE NUE) opened at $57.30 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11. The stock has a market cap of $18,216.64, a price-to-earnings ratio of 16.85, a P/E/G ratio of 1.29 and a beta of 1.58. Nucor has a 1-year low of $51.67 and a 1-year high of $68.00.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, September 29th were issued a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.51 annualized dividend and a yield of 2.64%. Nucor’s dividend payout ratio (DPR) is currently 43.90%.
In other news, insider Ladd R. Hall sold 17,583 shares of Nucor stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $57.94, for a total value 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of the transaction, the director now directly owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The disclosure for this sale can be found here. Insiders have sold a total of 44,217 shares of company stock worth $2,608,231 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Shelton Capital Management bought a new position in shares of Nucor in the third quarter valued at $449,000. Steward Partners Investment Advisory LLC bought a new position in Nucor during the third quarter worth $1,026,000. Smith Shellnut Wilson LLC ADV bought a new position in Nucor during the third quarter worth $229,000. Cetera Advisor Networks LLC boosted its position in Nucor by 27.5% during the third quarter. Cetera Advisor Networks LLC now owns 12,601 shares of the basic materials company’s stock worth $703,000 after purchasing an additional 2,716 shares during the period. Finally, Cetera Advisors LLC boosted its position in Nucor by 60.2% during the third quarter. Cetera Advisors LLC now owns 13,580 shares of the basic materials company’s stock worth $764,000 after purchasing an additional 5,103 shares during the period. 74.56% of the stock is owned by institutional investors and hedge funds.
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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