Nucor Corporation (NYSE: NUE) stock jumped 0.99% on Thursday to $134.69 against a previous-day closing price of $133.37. With 1.14 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.8 million shares. During the session, the Steel company that operates in wider Basic Materials sector, reached to the highest price of $135.43 whereas the lowest price it dropped to was $132.79. The 52-week range on NUE shows that it touched its highest point at $182.68 and its lowest point at $100.12 during that stretch. It currently has a 1-year price target of $156.33. With its current market cap of 34.23 billion, NUE has annualized dividend of $2.04 while the current yield stands at 1.51%. Beta for the stock currently stands at 1.58.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NUE was down-trending over the past week, with a drop of -3.98%, but this was down by -6.79% over a month. Three-month performance dropped to -17.13% while six-month performance fell -11.48%. The stock gained 8.43% in the past year, while it has gained 2.18% so far this year. A look at the trailing 12-month EPS for NUE yields 25.65 with Next year EPS estimates of 11.65. For the next quarter, that number is 5.22. This implies an EPS growth rate of 24.30% for this year and -27.83% for next year. EPS is expected to decline by -7.50% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 52.00%.
Float and Shares Shorts:
At present, 253.61 million NUE shares are outstanding with a float of 249.41 million shares on hand for trading. On Apr 27, 2023, short shares totaled 7.03 million, which was 2.80% higher than short shares on Mar 30, 2023. In addition to Mr. Leon J. Topalian as the firm’s Pres, CEO & Chairman, Mr. Stephen D. Laxton serves as its CFO, Treasurer & Exec. VP.
Through their ownership of 82.51% of NUE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 43.01% of NUE, in contrast to 38.16% held by mutual funds. Shares owned by individuals account for 1.93%. As the largest shareholder in NUE with 11.91% of the stake, The Vanguard Group, Inc. holds 30,010,688 shares worth 30,010,688. A second-largest stockholder of NUE, State Farm Investment Management, holds 27,142,877 shares, controlling over 10.77% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in NUE, holding 14,216,621 shares or 5.64% stake. With a 3.17% stake in NUE, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 7,974,415 shares are owned by the mutual fund manager. The Vanguard Mid Cap Index Fund, which owns about 2.38% of NUE stock, is the second-largest Mutual Fund holder. It holds 5,989,274 shares valued at 887.49 million. Vanguard 500 Index Fund holds 2.36% of the stake in NUE, owning 5,938,278 shares worth 879.93 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 31, 2023, NUE reported revenue of $11.79B and operating income of $3.54B. The EBITDA in the recently reported quarter was $3.80B and diluted EPS was $9.67.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NUE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NUE analysts setting a high price target of $188.00 and a low target of $129.00, the average target price over the next 12 months is $156.08. Based on these targets, NUE could surge 39.58% to reach the target high and fall by -4.22% to reach the target low. Reaching the average price target will result in a growth of 15.88% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded NUE stock several times over the past three months with 7 Buys and 6 Sells. In these transactions, 21,812 shares were bought while 33,489 shares were sold. The number of buy transactions has increased to 42 while that of sell transactions has risen to 74 over the past year. The total number of shares bought during that period was 486,181 while 256,248 shares were sold.