Nucor Corporation (NYSE:NUE) insider D. Chad Utermark sold 9,003 shares of Nucor Corporation stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $59.72, for a total value of $537,659.16. Following the sale, the insider now owns 73,883 shares in the company, valued at $4,412,292.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Nucor Corporation (NYSE:NUE) last issued its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The company had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.19 billion. Nucor Corporation had a return on equity of 12.77% and a net margin of 5.80%. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the business posted $0.88 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.51 dividend on an annualized basis and a yield of 2.58%. Nucor Corporation’s dividend payout ratio (DPR) is 43.90%.
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NUE has been the topic of several research reports. Credit Suisse Group lifted their price target on Nucor Corporation from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Bank of America Corporation restated a “buy” rating and set a $73.00 price target on shares of Nucor Corporation in a research report on Wednesday, September 6th. Citigroup Inc. set a $66.00 price target on Nucor Corporation and gave the company a “buy” rating in a research report on Friday, October 20th. Cowen and Company restated a “market perform” rating and set a $63.00 price target (up from $62.00) on shares of Nucor Corporation in a research report on Tuesday, July 25th. Finally, Berenberg Bank reissued a “buy” rating and issued a $77.50 target price on shares of Nucor Corporation in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $67.32.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mckinley Capital Management LLC Delaware purchased a new position in shares of Nucor Corporation during the 2nd quarter valued at about $100,000. Krilogy Financial LLC raised its stake in shares of Nucor Corporation by 4,594.6% during the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,700 shares during the last quarter. Washington Trust Bank raised its stake in shares of Nucor Corporation by 60.2% during the 2nd quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock valued at $102,000 after buying an additional 660 shares during the last quarter. Fiduciary Trust Co. purchased a new position in shares of Nucor Corporation during the 2nd quarter valued at about $109,000. Finally, Sun Life Financial INC raised its stake in shares of Nucor Corporation by 23,290.0% during the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock valued at $135,000 after buying an additional 2,329 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.
Nucor Corporation Company Profile
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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