Nucor (NYSE:NUE) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Monday, February 4th.
A number of other equities research analysts have also commented on NUE. Zacks Investment Research lowered Nucor from a “hold” rating to a “strong sell” rating in a research report on Friday, February 1st. UBS Group set a $63.00 price objective on Nucor and gave the company a “hold” rating in a research report on Tuesday, November 27th. Credit Suisse Group reiterated a “neutral” rating on shares of Nucor in a research report on Monday, October 15th. Citigroup decreased their price objective on Nucor from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, October 19th. Finally, KeyCorp reiterated a “buy” rating and issued a $72.00 price objective on shares of Nucor in a research report on Friday, November 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $71.45.
Nucor stock traded down $0.20 during trading hours on Monday, hitting $60.37. The stock had a trading volume of 2,004,759 shares, compared to its average volume of 2,881,017. Nucor has a fifty-two week low of $49.79 and a fifty-two week high of $69.79. The stock has a market cap of $19.21 billion, a price-to-earnings ratio of 7.92, a price-to-earnings-growth ratio of 0.85 and a beta of 1.51. The company has a quick ratio of 1.45, a current ratio of 3.08 and a debt-to-equity ratio of 0.41.
Nucor (NYSE:NUE) last released its quarterly earnings data on Tuesday, January 29th. The basic materials company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.14. The company had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.29 billion. Nucor had a return on equity of 24.57% and a net margin of 9.42%. The company’s revenue was up 23.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. On average, analysts expect that Nucor will post 5.97 earnings per share for the current fiscal year.
In other news, Chairman John J. Ferriola sold 87,719 shares of the stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $60.35, for a total value of $5,293,841.65. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. increased its holdings in Nucor by 2.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 70,461 shares of the basic materials company’s stock worth $4,404,000 after purchasing an additional 1,593 shares in the last quarter. Private Trust Co. NA bought a new position in Nucor during the 3rd quarter worth about $214,000. Covenant Asset Management LLC bought a new position in Nucor during the 3rd quarter worth about $212,000. Cerebellum GP LLC bought a new position in Nucor during the 3rd quarter worth about $181,000. Finally, Wilsey Asset Management Inc. increased its holdings in Nucor by 29.7% during the 3rd quarter. Wilsey Asset Management Inc. now owns 196,124 shares of the basic materials company’s stock worth $12,466,000 after purchasing an additional 44,935 shares in the last quarter. 76.28% of the stock is currently owned by institutional investors and hedge funds.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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