Nucor (NYSE:NUE) announced its quarterly earnings results on Thursday. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01, RTT News reports. The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6 billion. Nucor had a net margin of 8.84% and a return on equity of 21.65%. The company’s revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.07 EPS.
NYSE:NUE opened at $56.71 on Friday. The stock has a 50-day moving average of $53.21. Nucor has a 12 month low of $47.13 and a 12 month high of $68.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.64 and a current ratio of 3.56. The stock has a market cap of $17.28 billion, a PE ratio of 7.87, a price-to-earnings-growth ratio of 0.94 and a beta of 1.59.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 annualized dividend and a dividend yield of 2.82%. Nucor’s dividend payout ratio is 21.00%.
In related news, insider Raymond S. Napolitan, Jr. sold 10,000 shares of Nucor stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $58.28, for a total transaction of $582,800.00. Following the completion of the transaction, the insider now directly owns 96,778 shares of the company’s stock, valued at approximately $5,640,221.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Leon J. Topalian sold 1,253 shares of Nucor stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $56.99, for a total transaction of $71,408.47. Following the transaction, the executive vice president now directly owns 46,593 shares of the company’s stock, valued at $2,655,335.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,314 shares of company stock valued at $4,310,637. Corporate insiders own 0.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its position in Nucor by 1.3% during the 1st quarter. Northern Trust Corp now owns 5,538,288 shares of the basic materials company’s stock valued at $323,158,000 after acquiring an additional 72,896 shares during the period. Geode Capital Management LLC lifted its position in Nucor by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock valued at $258,607,000 after acquiring an additional 506,988 shares during the period. Dimensional Fund Advisors LP lifted its position in Nucor by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,772,938 shares of the basic materials company’s stock valued at $247,306,000 after acquiring an additional 82,259 shares during the period. Norges Bank purchased a new position in Nucor during the 4th quarter valued at about $176,620,000. Finally, Bank of America Corp DE lifted its position in Nucor by 0.6% during the 4th quarter. Bank of America Corp DE now owns 3,404,695 shares of the basic materials company’s stock valued at $176,397,000 after acquiring an additional 19,850 shares during the period. 76.47% of the stock is owned by institutional investors.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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