Nucor (NYSE:NUE) Issues Quarterly Earnings Results

Nucor (NYSE:NUE) posted its quarterly earnings results on Monday. The basic materials company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.28, Zacks reports. Nucor had a net margin of 8.05% and a return on equity of 12.06%. During the same period in the prior year, the firm earned $3.16 earnings per share.

Nucor Stock Performance

Shares of Nucor stock opened at $126.55 on Wednesday. The stock’s fifty day simple moving average is $130.15 and its 200 day simple moving average is $143.08. The company has a market capitalization of $29.72 billion, a PE ratio of 12.23 and a beta of 1.60. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. Nucor has a 12 month low of $112.25 and a 12 month high of $203.00.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.74%. This is an increase from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is 21.26%.

Insider Activity

In related news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the transaction, the chief financial officer now directly owns 82,132 shares in the company, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the transaction, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,680 shares of company stock worth $3,452,524 in the last quarter. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NUE. Morgan Stanley reduced their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Jefferies Financial Group dropped their price objective on shares of Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a report on Monday, January 6th. UBS Group reiterated a “neutral” rating and set a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Citigroup lowered their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and an average price target of $163.63.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.