Nucor (NUE) to Release Earnings on Monday

Nucor (NYSE:NUE) will be posting its quarterly earnings results after the market closes on Monday, April 22nd. Analysts expect Nucor to post earnings of $3.60 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Nucor (NYSE:NUE) last released its quarterly earnings results 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. The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.64 billion. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The firm’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.89 EPS. On average, analysts expect Nucor to post $13 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Nucor Stock Down 1.4 %

NYSE NUE opened at $194.53 on Monday. The company has a market capitalization of $46.68 billion, a P/E ratio of 10.81 and a beta of 1.61. The stock has a 50 day moving average price of $190.42 and a 200-day moving average price of $172.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. Nucor has a one year low of $129.79 and a one year high of $203.00.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Wednesday, March 27th. Nucor’s dividend payout ratio is 12.01%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NUE. UBS Group started coverage on shares of Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price objective on the stock. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, StockNews.com upgraded Nucor from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and an average target price of $186.67.

Insider Activity

In other Nucor news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the transaction, the insider now owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the transaction, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,151 shares of company stock worth $7,308,683. Corporate insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Nucor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Grayhawk Investment Strategies Inc. acquired a new position in shares of Nucor during the fourth quarter valued at approximately $143,000. West Tower Group LLC acquired a new stake in shares of Nucor in the fourth quarter valued at about $132,000. Main Street Group LTD purchased a new position in shares of Nucor in the fourth quarter worth about $131,000. ICA Group Wealth Management LLC acquired a new position in Nucor during the fourth quarter worth about $101,000. Finally, MUFG Americas Holdings Corp grew its stake in Nucor by 71.4% during the 3rd quarter. MUFG Americas Holdings Corp now owns 840 shares of the basic materials company’s stock valued at $90,000 after acquiring an additional 350 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

About Nucor

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.