Nucor Co. (NYSE:NUE) Given Consensus Rating of “Hold” by Analysts

Nucor Co. (NYSE:NUEGet Rating) has been given an average recommendation of “Hold” by the thirteen analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $143.64.

Several brokerages have issued reports on NUE. BMO Capital Markets raised their target price on Nucor from $152.00 to $168.00 in a research report on Friday, April 22nd. Morgan Stanley lifted their price objective on Nucor from $107.00 to $108.00 and gave the company an “equal weight” rating in a research report on Monday, January 31st. StockNews.com initiated coverage on Nucor in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Argus lifted their price objective on Nucor from $140.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, April 25th. Finally, Credit Suisse Group lifted their price objective on Nucor from $142.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, April 22nd.

Shares of NYSE:NUE opened at $123.79 on Friday. The stock has a market capitalization of $33.27 billion, a price-to-earnings ratio of 4.43 and a beta of 1.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.66 and a current ratio of 2.88. The stock’s 50-day simple moving average is $147.76 and its two-hundred day simple moving average is $125.60. Nucor has a 52-week low of $87.71 and a 52-week high of $187.90.

Nucor (NYSE:NUEGet Rating) last announced its earnings results on Thursday, April 21st. The basic materials company reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.39 by $0.28. The business had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.72 billion. Nucor had a return on equity of 55.61% and a net margin of 19.97%. The business’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same period last year, the firm posted $3.10 earnings per share. As a group, equities analysts forecast that Nucor will post 23.33 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 11th. Investors of record on Thursday, March 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.62%. Nucor’s dividend payout ratio is presently 7.15%.

In other Nucor news, insider Michael D. Keller sold 3,600 shares of the stock in a transaction on Friday, March 25th. The shares were sold at an average price of $154.58, for a total transaction of $556,488.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel R. Needham sold 4,000 shares of the stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $160.00, for a total transaction of $640,000.00. Following the transaction, the executive vice president now owns 46,994 shares of the company’s stock, valued at approximately $7,519,040. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,639 shares of company stock worth $4,736,302. 0.46% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. MFA Wealth Advisors LLC bought a new position in Nucor during the third quarter valued at $25,000. Westside Investment Management Inc. bought a new position in Nucor during the fourth quarter valued at $25,000. Consolidated Planning Corp bought a new position in Nucor during the third quarter valued at $27,000. Rational Advisors LLC bought a new position in Nucor during the fourth quarter valued at $28,000. Finally, Riverview Trust Co bought a new position in Nucor during the first quarter valued at $28,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

About Nucor (Get Rating)

Nucor Corporation manufactures and sells 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 special bar quality products.

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Analyst Recommendations for Nucor (NYSE:NUE)

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