Nucor Corporation (NUE) climbs 4.18%, marking win over bears – Marketing Sentinel

Nucor Corporation (NUE) climbs 4.18%, marking win over bears

Nucor Corporation (NYSE:NUE) has a beta value of 1.41 and has seen 4,475,096 shares traded in the last trading session. The company, currently valued at $25.65 Billion, closed the last trade at $85.7 per share which meant it gained $3.44 on the day or 4.18% during that session. The NUE stock price is -1.3% off its 52-week high price of $86.81 and 59.49% above the 52-week low of $34.72. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.03 Million shares traded. The 3-month trading volume is 2.96 Million shares.

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The consensus among analysts is that Nucor Corporation (NUE) is an Overweight stock at the moment, with a recommendation rating of 2.4. None of the analysts rate the stock as a Sell, while 1 rate it as Overweight. 7 out of 12 have rated it as a Hold, with 4 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $3.98.

Nucor Corporation (NYSE:NUE) trade information

Sporting 4.18% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, May 03 when the NUE stock price touched $86.81- or saw a rise of 1.28%. Year-to-date, Nucor Corporation shares have moved 61.12%, while the 5-day performance has seen it change 6.33%. Over the past 30 days, the shares of Nucor Corporation (NYSE:NUE) have changed 7.29%. Short interest in the company has seen 3.75 Million shares shorted with days to cover at 1.27.

Wall Street analysts have a consensus price target for the stock at $77.4, which means that the shares’ value could jump -9.68% from current levels. The projected low price target is $66 while the price target rests at a high of $86. In that case, then, we find that the current price level is +0.35% off the targeted high while a plunge would see the stock lose -22.99% from current levels.

Nucor Corporation (NUE) estimates and forecasts

Figures show that Nucor Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained +78.77% over the past 6 months, with this year growth rate of 228.44%, compared to 3.9% for the industry. Other than that, the company has, however Increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 975.7% and 369.2% for the next quarter. Revenue growth from the last financial year stood is estimated to be +44.1%.

5 analysts offering their estimates for the company have set an average revenue estimate of $7.93 Billion for the current quarter. 4 have an estimated revenue figure of $7.56 Billion for the next quarter concluding in September 01, 2021. Year-ago sales stood $4.41 Billion and $4.93 Billion respectively for this quarter and the next, and analysts expect sales will grow by 79.7% for the current quarter and 53.4% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +57.1% over the past 5 years. Earnings growth for 2021 is a modest -42.9% while over the next 5 years, the company’s earnings are expected to increase by 8.88%.

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NUE Dividends

Nucor Corporation is expected to release its next earnings report between July 21 and July 26 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.62 at a share yield of 1.97%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 2.86%.

Nucor Corporation (NYSE:NUE)’s Major holders

Insiders own 0.52% of the company shares, while shares held by institutions stand at 81.27% with a share float percentage of 81.69%. Investors are also buoyed by the number of investors in a company, with Nucor Corporation having a total of 1087 institutions that hold shares in the company. The top two institutional holders are Vanguard Group Inc. (The) with over 35.18 Million shares worth more than $1.87 Billion. As of December 30, 2020, Vanguard Group Inc. (The) held 11.78% of shares outstanding.

The other major institutional holder is State Farm Mutual Automobile Insurance Co, with the holding of over 28.21 Million shares as of December 30, 2020. The firm’s total holdings are worth over $1.5 Billion and represent 9.44% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are Washington Mutual Investors Fund and Vanguard Total Stock Market Index Fund. As of March 30, 2021, the former fund manager holds about 4.24% shares in the company for having 12673685 shares of worth $1.02 Billion while later fund manager owns 8.5 Million shares of worth $452.32 Million as of December 30, 2020, which makes it owner of about 2.85% of company’s outstanding stock.

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