Nucor (NYSE:NUE) Rating Lowered to Hold at StockNews.com

Nucor (NYSE:NUEGet Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

NUE has been the subject of a number of other reports. Morgan Stanley lowered their price objective on shares of Nucor from $162.00 to $154.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 31st. UBS Group started coverage on shares of Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Nucor from $151.00 to $158.00 and gave the company a “neutral” rating in a research report on Tuesday, December 12th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $174.43.

View Our Latest Analysis on NUE

Nucor Price Performance

Shares of Nucor stock traded down $0.37 on Monday, reaching $186.17. 1,171,831 shares of the stock were exchanged, compared to its average volume of 1,648,546. The firm’s 50 day moving average is $173.81 and its 200-day moving average is $164.50. Nucor has a one year low of $129.79 and a one year high of $190.96. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. The firm has a market cap of $45.77 billion, a PE ratio of 10.35 and a beta of 1.61.

Nucor (NYSE:NUEGet Free Report) last released its quarterly earnings data on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.33. The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.89 EPS. As a group, analysts anticipate that Nucor will post 12.53 EPS for the current fiscal year.

Insider Transactions at Nucor

In other news, COO David A. Sumoski sold 28,768 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $175.01, for a total transaction of $5,034,687.68. Following the completion of the sale, the chief operating officer now directly owns 200,638 shares in the company, valued at $35,113,656.38. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, COO David A. Sumoski sold 28,768 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $175.01, for a total transaction of $5,034,687.68. Following the transaction, the chief operating officer now directly owns 200,638 shares of the company’s stock, valued at $35,113,656.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Nicholas C. Gangestad bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were bought at an average cost of $176.61 per share, for a total transaction of $176,610.00. Following the completion of the purchase, the director now owns 1,000 shares of the company’s stock, valued at $176,610. The disclosure for this purchase can be found here. Insiders sold a total of 77,330 shares of company stock worth $13,672,548 over the last three months. 0.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Householder Group Estate & Retirement Specialist LLC bought a new position in Nucor during the third quarter worth $25,000. Criterion Capital Advisors LLC bought a new position in shares of Nucor in the fourth quarter valued at $25,000. Providence Capital Advisors LLC lifted its stake in shares of Nucor by 15,470.4% in the first quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company’s stock valued at $27,000 after buying an additional 4,177 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Nucor in the first quarter valued at $32,000. Finally, Valley National Advisers Inc. lifted its stake in shares of Nucor by 716.7% in the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock valued at $34,000 after buying an additional 172 shares in the last quarter. 77.76% of the stock is owned by institutional investors.

About Nucor

(Get Free Report)

Nucor Corporation engages in manufacture and sale of steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products.

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Analyst Recommendations for Nucor (NYSE:NUE)

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