Nucor Co. (NYSE:NUE - Get Free Report)'s share price dropped 7.2% on Tuesday . The stock traded as low as $144.57 and last traded at $144.85. Approximately 890,201 shares changed hands during trading, a decline of 39% from the average daily volume of 1,468,526 shares. The stock had previously closed at $156.11.
NUE has been the subject of several research reports. BMO Capital Markets cut their target price on shares of Nucor from $175.00 to $160.00 and set a "market perform" rating for the company in a research report on Wednesday, September 18th. Morgan Stanley reduced their price objective on Nucor from $176.00 to $170.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 18th. Bank of America lowered their target price on Nucor from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, June 26th. Argus upgraded shares of Nucor to a "strong-buy" rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. cut their price objective on Nucor from $174.00 to $170.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $191.43.
Get Our Latest Stock Report on Nucor
The firm has a 50-day simple moving average of $147.74 and a 200-day simple moving average of $159.90. The firm has a market capitalization of $35.41 billion, a PE ratio of 8.52 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.
Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same period in the prior year, the business posted $4.57 EPS. Nucor's revenue was down 15.2% on a year-over-year basis. As a group, equities analysts forecast that Nucor Co. will post 9.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.46%. The ex-dividend date is Friday, September 27th. Nucor's dividend payout ratio is 12.71%.
In related news, EVP Daniel R. Needham sold 8,624 shares of the company's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the transaction, the executive vice president now owns 99,049 shares of the company's stock, valued at approximately $15,847,840. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in NUE. McClarren Financial Advisors Inc. raised its position in Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 89 shares during the period. Chilton Capital Management LLC boosted its stake in Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company's stock worth $27,000 after buying an additional 65 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Nucor in the first quarter valued at $28,000. Brown Lisle Cummings Inc. bought a new stake in shares of Nucor in the 3rd quarter worth about $30,000. Finally, Salomon & Ludwin LLC bought a new position in Nucor during the 1st quarter valued at about $31,000. Institutional investors own 76.48% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Nucor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nucor wasn't on the list.
While Nucor currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.