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

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

Wall Street Analysts Forecast Growth

NUE has been the topic of several recent research reports. Morgan Stanley upgraded Nucor from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $187.00 to $176.00 in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Bank of America dropped their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Jefferies Financial Group assumed coverage on shares of Nucor in a research note on Monday, May 20th. They set a “hold” rating and a $190.00 price objective for the company. Finally, BMO Capital Markets dropped their target price on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday, June 17th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.43.

Nucor Stock Up 0.0 %

The business has a 50-day moving average of $155.34 and a 200 day moving average of $173.61. The company has a market capitalization of $34.82 billion, a PE ratio of 8.54 and a beta of 1.57. 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) last issued 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 business had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the prior year, the firm earned $5.81 EPS. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. Equities research analysts predict that Nucor Co. will post 10.57 earnings per share for the current year.

Nucor Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 in the company, valued at approximately $15,847,840. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nucor

Several hedge funds and other institutional investors have recently made changes to their positions in NUE. CX Institutional lifted its stake in shares of Nucor by 52.8% during the 2nd quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock worth $2,726,000 after acquiring an additional 5,960 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Nucor by 94.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,855 shares of the basic materials company’s stock worth $323,000 after purchasing an additional 900 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Nucor by 6.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 262,385 shares of the basic materials company’s stock valued at $45,665,000 after purchasing an additional 15,058 shares during the period. Norden Group LLC bought a new position in shares of Nucor in the first quarter worth about $1,847,000. Finally, Banco Santander S.A. increased its stake in Nucor by 86.2% in the 1st quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock worth $2,552,000 after buying an additional 5,971 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

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.