Nucor (NYSE:NUE) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Nucor (NYSE:NUEFree Report) from a hold rating to a buy rating in a research note published on Wednesday.

Other equities analysts have also issued research reports about the company. Citigroup raised Nucor from a neutral rating to a buy rating and upped their price target for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. UBS Group initiated coverage on Nucor in a report on Tuesday, January 16th. They issued a buy rating and a $210.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Nucor from $151.00 to $158.00 and gave the company a neutral rating in a report on Tuesday, December 12th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nucor has a consensus rating of Moderate Buy and a consensus target price of $186.67.

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Nucor Stock Performance

NYSE NUE opened at $194.53 on Wednesday. The stock’s fifty day moving average is $190.42 and its two-hundred day moving average is $172.29. The firm has a market capitalization of $46.68 billion, a P/E ratio of 10.81 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. Nucor has a fifty-two week low of $129.79 and a fifty-two week high of $203.00.

Nucor (NYSE:NUEGet Free Report) last announced its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.83 by $0.33. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.64 billion. During the same quarter in the prior year, the company posted $4.89 EPS. The company’s quarterly revenue was down 11.7% on a year-over-year basis. On average, research analysts anticipate that Nucor will post 13 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.11%. Nucor’s dividend payout ratio is currently 12.01%.

Insider Transactions at Nucor

In other news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the sale, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at $15,386,751.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,151 shares of company stock valued at $7,308,683. 0.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Nucor

A number of large investors have recently made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its position in Nucor by 127,059.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 155,232,061 shares of the basic materials company’s stock worth $20,461,138,000 after acquiring an additional 155,109,984 shares during the period. Norges Bank acquired a new stake in Nucor during the 4th quarter worth approximately $377,631,000. Morgan Stanley lifted its position in Nucor by 30.0% during the 4th quarter. Morgan Stanley now owns 4,247,626 shares of the basic materials company’s stock worth $559,880,000 after acquiring an additional 979,824 shares during the period. International Assets Investment Management LLC acquired a new stake in Nucor during the 4th quarter worth approximately $108,747,000. Finally, Imprint Wealth LLC lifted its position in Nucor by 21,987.3% during the 2nd quarter. Imprint Wealth LLC now owns 528,992 shares of the basic materials company’s stock worth $52,899,000 after acquiring an additional 526,597 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

About Nucor

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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.

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Analyst Recommendations for Nucor (NYSE:NUE)

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