Nucor (NYSE:NUE) Hits New 52-Week High at $203.00

Nucor Co. (NYSE:NUE) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $203.00 and last traded at $201.27, with a volume of 70436 shares changing hands. The stock had previously closed at $200.88.

Analyst Upgrades and Downgrades

NUE has been the subject of several recent research reports. StockNews.com upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Wednesday. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, UBS Group initiated coverage on Nucor in a research note on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $186.67.

Nucor Price Performance

The stock has a market capitalization of $47.56 billion, a price-to-earnings ratio of 11.02 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. The company has a fifty day simple moving average of $189.96 and a two-hundred day simple moving average of $171.84.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 29th. The basic materials company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.33. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.64 billion. During the same period in the previous year, the firm earned $4.89 EPS. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. As a group, equities research analysts expect that Nucor Co. will post 13 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.09%. Nucor’s dividend payout ratio (DPR) is currently 12.01%.

Insider Buying and Selling at Nucor

In related news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total value of $1,025,035.00. Following the sale, the executive vice president now owns 85,326 shares in the company, valued at $15,902,206.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,151 shares of company stock worth $7,308,683. 0.64% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nucor

Several hedge funds have recently added to or reduced their stakes in NUE. SVB Wealth LLC grew its holdings in shares of Nucor by 1.5% during the 4th quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock worth $636,000 after acquiring an additional 54 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Nucor by 6.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock valued at $151,000 after buying an additional 54 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in shares of Nucor by 0.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock valued at $1,252,000 after buying an additional 55 shares during the period. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of Nucor by 36.6% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock valued at $38,000 after buying an additional 59 shares during the period. Finally, Center for Financial Planning Inc. raised its holdings in Nucor by 7.9% in the 4th quarter. Center for Financial Planning Inc. now owns 822 shares of the basic materials company’s stock worth $143,000 after purchasing an additional 60 shares during the period. 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.