Longbow Research reissued their buy rating on shares of Nucor Corporation (NYSE:NUE) in a research report released on Thursday. Longbow Research currently has a $66.00 price target on the basic materials company’s stock.

NUE has been the subject of several other reports. Jefferies Group LLC reaffirmed a buy rating and set a $68.00 target price on shares of Nucor Corporation in a research report on Wednesday, July 19th. Zacks Investment Research raised Nucor Corporation from a hold rating to a buy rating and set a $67.00 target price for the company in a research report on Tuesday, April 11th. ValuEngine lowered Nucor Corporation from a buy rating to a hold rating in a research report on Friday, June 16th. KeyCorp reaffirmed an overweight rating and set a $66.00 target price (down from $72.00) on shares of Nucor Corporation in a research report on Monday, June 26th. Finally, Barclays PLC reaffirmed a buy rating and set a $73.00 target price on shares of Nucor Corporation in a research report on Friday, May 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $68.76.

Shares of Nucor Corporation (NUE) traded up 0.09% during trading on Thursday, reaching $57.51. 1,383,340 shares of the company were exchanged. The company has a market capitalization of $18.43 billion, a PE ratio of 16.15 and a beta of 1.52. The firm’s 50 day moving average price is $58.49 and its 200 day moving average price is $59.77. Nucor Corporation has a one year low of $44.81 and a one year high of $68.00.

Nucor Corporation (NYSE:NUE) last released its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by $0.06. The company had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 earnings per share. Equities research analysts forecast that Nucor Corporation will post $4.18 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, June 30th will be issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, June 28th. Nucor Corporation’s dividend payout ratio (DPR) is currently 43.77%.

In other Nucor Corporation news, insider David A. Sumoski sold 2,537 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $61.66, for a total value of $156,431.42. Following the completion of the transaction, the insider now owns 62,434 shares in the company, valued at approximately $3,849,680.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman John J. Ferriola sold 14,941 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $60.17, for a total value of $898,999.97. Following the completion of the transaction, the chairman now owns 361,847 shares of the company’s stock, valued at approximately $21,772,333.99. The disclosure for this sale can be found here. In the last three months, insiders sold 20,104 shares of company stock valued at $1,213,595. 0.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Nucor Corporation by 1,900.5% in the first quarter. BlackRock Inc. now owns 21,654,414 shares of the basic materials company’s stock valued at $1,293,202,000 after buying an additional 20,571,970 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Nucor Corporation by 17.3% in the first quarter. Vanguard Group Inc. now owns 25,254,158 shares of the basic materials company’s stock valued at $1,508,179,000 after buying an additional 3,729,281 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Nucor Corporation by 1,351.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,207,726 shares of the basic materials company’s stock valued at $72,124,000 after buying an additional 1,124,541 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Nucor Corporation by 53.6% in the first quarter. AQR Capital Management LLC now owns 2,513,579 shares of the basic materials company’s stock valued at $150,111,000 after buying an additional 877,194 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Nucor Corporation by 69.2% in the first quarter. Prudential Financial Inc. now owns 1,866,961 shares of the basic materials company’s stock valued at $111,495,000 after buying an additional 763,540 shares in the last quarter. Institutional investors and hedge funds own 76.44% of the company’s stock.

About Nucor Corporation

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

Analyst Recommendations for Nucor Corporation (NYSE:NUE)

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