Nucor (NYSE:NUE) Hits New 12-Month Low – Should You Sell?

Nucor Co. (NYSE:NUE) shares hit a new 52-week low during mid-day trading on Thursday . The company 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 Analyst Weigh In

Several analysts recently issued reports on NUE shares. Morgan Stanley set a $164.00 price target on shares of Nucor in a research report on Monday, March 24th. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. UBS Group raised shares of Nucor from a “neutral” rating to a “buy” rating and raised their price target for the company from $156.00 to $160.00 in a research report on Monday, March 24th. JPMorgan Chase & Co. boosted their price objective on Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Finally, Argus set a $155.00 target price on Nucor in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.44.

Nucor Stock Down 10.6 %

The stock has a 50-day moving average of $130.82 and a 200 day moving average of $136.86. The company has a market capitalization of $25.35 billion, a PE ratio of 13.07, a P/E/G ratio of 0.96 and a beta of 1.58. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the firm posted $3.16 earnings per share. Sell-side analysts anticipate that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is currently 26.16%.

Institutional Investors Weigh In On Nucor

Hedge funds have recently modified their holdings of the stock. Townsquare Capital LLC grew its stake in shares of Nucor by 5.8% during the 3rd quarter. Townsquare Capital LLC now owns 4,622 shares of the basic materials company’s stock worth $695,000 after acquiring an additional 255 shares during the period. Public Sector Pension Investment Board boosted its position in Nucor by 9.9% during the third quarter. Public Sector Pension Investment Board now owns 10,000 shares of the basic materials company’s stock worth $1,503,000 after purchasing an additional 900 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Nucor in the third quarter worth about $840,000. Erste Asset Management GmbH bought a new stake in shares of Nucor in the third quarter valued at approximately $1,493,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Nucor during the 3rd quarter valued at approximately $78,000. 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.