NUE has been the topic of several other research reports. The Goldman Sachs Group lowered their price target on Nucor from $148.00 to $130.00 and set a neutral rating on the stock in a report on Tuesday, May 31st. BMO Capital Markets decreased their price objective on Nucor from $168.00 to $128.00 in a report on Tuesday, May 17th. StockNews.com began coverage on Nucor in a report on Thursday, March 31st. They set a buy rating on the stock. Argus raised their price objective on Nucor from $140.00 to $190.00 and gave the company a buy rating in a report on Monday, April 25th. Finally, JPMorgan Chase & Co. decreased their price objective on Nucor from $146.00 to $125.00 and set a neutral rating on the stock in a report on Tuesday, June 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $132.55.
NYSE:NUE opened at $106.04 on Monday. The business’s 50-day moving average price is $134.67 and its two-hundred day moving average price is $127.86. Nucor has a twelve month low of $87.71 and a twelve month high of $187.90. The stock has a market cap of $28.21 billion, a P/E ratio of 3.79 and a beta of 1.23. The company has a quick ratio of 1.66, a current ratio of 2.88 and a debt-to-equity ratio of 0.38.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Thursday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $2.00 annualized dividend and a yield of 1.89%. Nucor’s payout ratio is 7.15%.
In other news, EVP Daniel R. Needham sold 4,000 shares of Nucor stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $160.00, for a total value of $640,000.00. Following the sale, the executive vice president now directly owns 46,994 shares in the company, valued at approximately $7,519,040. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Leon J. Topalian sold 48,768 shares of Nucor stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $112.61, for a total value of $5,491,764.48. Following the completion of the sale, the chief executive officer now owns 135,809 shares in the company, valued at $15,293,451.49. The disclosure for this sale can be found here. 0.46% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Peachtree Investment Partners LLC bought a new stake in shares of Nucor in the 1st quarter worth approximately $478,000. Vise Technologies Inc. purchased a new position in shares of Nucor in the 1st quarter valued at approximately $220,000. Rehmann Capital Advisory Group lifted its stake in shares of Nucor by 6.5% in the 1st quarter. Rehmann Capital Advisory Group now owns 4,956 shares of the basic materials company’s stock valued at $737,000 after purchasing an additional 301 shares during the period. CFS Investment Advisory Services LLC lifted its stake in shares of Nucor by 14,509.4% in the 1st quarter. CFS Investment Advisory Services LLC now owns 4,061,713 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 4,033,911 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its stake in shares of Nucor by 3.8% in the 1st quarter. Kestra Private Wealth Services LLC now owns 7,203 shares of the basic materials company’s stock valued at $1,071,000 after purchasing an additional 264 shares during the period. Hedge funds and other institutional investors own 77.70% of the company’s stock.
About Nucor (Get Rating)
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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