Seaport Res Ptn Estimates Nucor’s FY2024 Earnings (NYSE:NUE)

Nucor Co. (NYSE:NUE) – Investment analysts at Seaport Res Ptn issued their FY2024 earnings per share (EPS) estimates for shares of Nucor in a research note issued on Tuesday, January 21st. Seaport Res Ptn analyst M. Englert anticipates that the basic materials company will post earnings of $8.33 per share for the year. The consensus estimate for Nucor’s current full-year earnings is $8.18 per share. Seaport Res Ptn also issued estimates for Nucor’s Q4 2024 earnings at $0.70 EPS and FY2025 earnings at $7.42 EPS.

A number of other equities analysts have also recently weighed in on NUE. UBS Group reissued a “neutral” rating and set a $156.00 price target (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Citigroup decreased their target price on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Jefferies Financial Group dropped their price target on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. decreased their price objective on Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, The Goldman Sachs Group initiated coverage on shares of Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus target price of $163.63.

Nucor Stock Up 0.1 %

Nucor stock opened at $122.19 on Thursday. Nucor has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The firm has a market capitalization of $28.69 billion, a price-to-earnings ratio of 11.81 and a beta of 1.60. The company’s 50 day simple moving average is $131.15 and its 200 day simple moving average is $143.67.

Institutional Investors Weigh In On Nucor

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp grew its holdings in Nucor by 2.9% during the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares during the period. National Pension Service increased its holdings in shares of Nucor by 3.2% during the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock worth $98,097,000 after acquiring an additional 20,258 shares during the last quarter. Everence Capital Management Inc. bought a new stake in Nucor in the 4th quarter valued at $565,000. BIP Wealth LLC acquired a new stake in Nucor during the 3rd quarter valued at $681,000. Finally, Ascension Asset Management LLC bought a new position in Nucor during the second quarter worth $885,000. Institutional investors own 76.48% of the company’s stock.

Insider Transactions at Nucor

In related news, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the sale, the chief financial officer now owns 82,132 shares in the company, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the executive vice president now owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This represents a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock valued at $4,773,724 in the last ninety days. 0.46% of the stock is currently owned by corporate insiders.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.80%. This is an increase from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is 21.26%.

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.