Nucor (NYSE:NUE) Hits New 52-Week Low at $139.41

Nucor Co. (NYSE:NUE)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $139.41 and last traded at $139.41, with a volume of 266849 shares trading hands. The stock had previously closed at $142.88.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NUE shares. JPMorgan Chase & Co. reduced their price target on Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Morgan Stanley raised shares of Nucor from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $187.00 to $176.00 in a research report on Thursday. BMO Capital Markets dropped their target price on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research report on Monday, June 17th. Jefferies Financial Group began coverage on Nucor in a research note on Monday, May 20th. They issued a “hold” rating and a $190.00 price target on the stock. Finally, StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $194.43.

Nucor Trading Up 0.0 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The company has a market cap of $34.82 billion, a P/E ratio of 8.54 and a beta of 1.57. The business has a fifty day simple moving average of $155.34 and a 200 day simple moving average of $173.61.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period last year, the business posted $5.81 earnings per share. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. Analysts anticipate that Nucor Co. will post 10.57 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, June 28th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, June 28th. Nucor’s dividend payout ratio is presently 12.71%.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the transaction, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

Institutional Trading of Nucor

Several hedge funds have recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Nucor during the first quarter valued at approximately $27,000. Chilton Capital Management LLC lifted its holdings in Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 65 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of Nucor during the 1st quarter worth about $28,000. Criterion Capital Advisors LLC acquired a new stake in shares of Nucor in the 4th quarter worth approximately $25,000. Finally, Tompkins Financial Corp boosted its holdings in shares of Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 104 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

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.