Nucor (NYSE:NUE) Reaches New 1-Year Low – What’s Next?

Nucor Co. (NYSE:NUE)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $111.81 and last traded at $112.46, with a volume of 1262235 shares traded. The stock had previously closed at $123.03.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NUE shares. StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Jefferies Financial Group lifted their price target on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. UBS Group upgraded Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $156.00 to $160.00 in a report on Monday, March 24th. 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. Finally, Morgan Stanley set a $164.00 price target on shares of Nucor in a research note on Monday, March 24th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.44.

Nucor Stock Performance

The company has a market cap of $23.78 billion, a PE ratio of 12.26, a PEG ratio of 0.96 and a beta of 1.58. The stock has a 50 day simple moving average of $130.19 and a two-hundred day simple moving average of $136.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating the consensus estimate of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same period in the prior year, the business posted $3.16 earnings per share. Equities analysts predict that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

Institutional Trading of Nucor

Hedge funds have recently added to or reduced their stakes in the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Nucor during the fourth quarter worth approximately $25,000. Crews Bank & Trust purchased a new position in Nucor in the 4th quarter valued at $29,000. Putney Financial Group LLC acquired a new position in Nucor in the 4th quarter valued at $29,000. New Wave Wealth Advisors LLC purchased a new position in Nucor during the 4th quarter worth $33,000. Finally, Versant Capital Management Inc lifted its stake in shares of Nucor by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 114 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

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.