Nucor (NYSE:NUE) Stock Price Down 5.8% – What’s Next?

Nucor Co. (NYSE:NUE)’s share price dropped 5.8% during mid-day trading on Friday . The company traded as low as $122.33 and last traded at $122.01. Approximately 912,679 shares changed hands during trading, a decline of 50% from the average daily volume of 1,824,263 shares. The stock had previously closed at $129.50.

Wall Street Analyst Weigh In

NUE has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. UBS Group reaffirmed a “neutral” rating and set a $156.00 target price (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Jefferies Financial Group lifted their price target on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. The Goldman Sachs Group assumed coverage on Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. Finally, StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.33.

Nucor Stock Down 5.8 %

The business has a 50 day simple moving average of $130.65 and a 200 day simple moving average of $137.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The stock has a market cap of $28.13 billion, a PE ratio of 14.51, a P/E/G ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same period in the prior year, the company earned $3.16 EPS. On average, equities research analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.80%. Nucor’s dividend payout ratio (DPR) is currently 26.16%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor in the fourth quarter worth about $25,000. Crews Bank & Trust acquired a new stake in shares of Nucor in the fourth quarter worth about $29,000. Putney Financial Group LLC acquired a new stake in shares of Nucor in the fourth quarter worth about $29,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Nucor in the fourth quarter worth about $33,000. Finally, Versant Capital Management Inc lifted its position in shares of Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after buying an additional 114 shares during the last quarter. Hedge funds and other 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.