Nucor (NYSE:NUE – Get Rating) updated its third quarter 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $6.30-$6.40 for the period, compared to the consensus estimate of $7.76. The company issued revenue guidance of -.
Nucor Price Performance
Shares of NYSE NUE opened at $124.46 on Wednesday. The stock has a fifty day moving average of $126.57 and a 200-day moving average of $129.26. The stock has a market cap of $32.58 billion, a PE ratio of 3.82 and a beta of 1.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.62. Nucor has a fifty-two week low of $88.50 and a fifty-two week high of $187.90.
Nucor (NYSE:NUE – Get Rating) last posted its earnings results on Thursday, July 21st. The basic materials company reported $9.67 earnings per share for the quarter, beating analysts’ consensus estimates of $8.91 by $0.76. Nucor had a return on equity of 57.78% and a net margin of 21.03%. The business had revenue of $11.79 billion during the quarter, compared to analyst estimates of $11.59 billion. During the same quarter in the previous year, the firm earned $5.04 EPS. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. Equities research analysts anticipate that Nucor will post 29.84 earnings per share for the current year.
Nucor Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, September 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, September 29th. Nucor’s dividend payout ratio is presently 6.14%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on NUE shares. Morgan Stanley decreased their price target on shares of Nucor from $121.00 to $115.00 and set an equal weight rating on the stock in a report on Monday, July 25th. The Goldman Sachs Group lowered their price target on Nucor from $127.00 to $114.00 and set a neutral rating on the stock in a report on Thursday, October 6th. Credit Suisse Group cut their price objective on Nucor from $165.00 to $140.00 and set an outperform rating for the company in a report on Friday, September 16th. StockNews.com initiated coverage on shares of Nucor in a research note on Wednesday, October 12th. They issued a hold rating on the stock. Finally, Citigroup lifted their target price on shares of Nucor to $145.00 in a research report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $131.00.
Insider Buying and Selling
In other Nucor news, EVP Kenneth Rex Query sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total transaction of $708,200.00. Following the transaction, the executive vice president now directly owns 76,100 shares in the company, valued at $10,778,804. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Allen C. Behr sold 3,407 shares of Nucor stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $122.17, for a total value of $416,233.19. Following the transaction, the executive vice president now owns 64,087 shares in the company, valued at $7,829,508.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kenneth Rex Query sold 5,000 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total value of $708,200.00. Following the sale, the executive vice president now owns 76,100 shares of the company’s stock, valued at $10,778,804. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Nucor
A number of large investors have recently bought and sold shares of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Nucor in the first quarter worth approximately $32,000. Fairfield Bush & CO. purchased a new stake in Nucor during the 1st quarter valued at $48,000. Stonebridge Capital Advisors LLC grew its holdings in Nucor by 48.3% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,398 shares of the basic materials company’s stock worth $208,000 after acquiring an additional 455 shares during the last quarter. Brighton Jones LLC purchased a new position in shares of Nucor in the first quarter valued at about $222,000. Finally, Mirabella Financial Services LLP purchased a new position in shares of Nucor in the first quarter valued at about $224,000. 79.07% of the stock is owned by hedge funds and other institutional investors.
Nucor Company Profile
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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