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

StockNews.com downgraded shares of Nucor (NYSE:NUEGet Rating) from a buy rating to a hold rating in a research note released on Tuesday morning.

NUE has been the subject of a number of other reports. BMO Capital Markets reduced their price target on shares of Nucor from $168.00 to $128.00 in a research report on Tuesday, May 17th. JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $146.00 to $125.00 and set a neutral rating on the stock in a research note on Tuesday, June 14th. Morgan Stanley lowered their price target on Nucor from $121.00 to $115.00 and set an equal weight rating for the company in a research report on Monday, July 25th. UBS Group set a $120.00 target price on Nucor in a research report on Monday, June 20th. Finally, Citigroup boosted their price target on Nucor to $145.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Nucor has an average rating of Hold and an average price target of $136.00.

Nucor Trading Down 4.0 %

NYSE NUE opened at $136.10 on Tuesday. Nucor has a 12 month low of $88.50 and a 12 month high of $187.90. The stock has a market capitalization of $35.63 billion, a P/E ratio of 4.18 and a beta of 1.39. The firm’s 50-day moving average is $130.21 and its two-hundred day moving average is $133.74. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.62 and a quick ratio of 1.39.

Nucor (NYSE:NUEGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The basic materials company reported $9.67 earnings per share for the quarter, beating analysts’ consensus estimates of $8.91 by $0.76. The business had revenue of $11.79 billion during the quarter, compared to analysts’ expectations of $11.59 billion. Nucor had a net margin of 21.03% and a return on equity of 57.78%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period last year, the business earned $5.04 earnings per share. On average, sell-side analysts anticipate that Nucor will post 31.01 earnings per share for the current year.

Insider Activity at Nucor

In related news, EVP Allen C. Behr sold 3,407 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $122.17, for a total value of $416,233.19. Following the completion of the sale, the executive vice president now directly owns 64,087 shares in the company, valued at approximately $7,829,508.79. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Allen C. Behr sold 3,407 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $122.17, for a total value of $416,233.19. Following the completion of the sale, the executive vice president now directly owns 64,087 shares in the company, valued at approximately $7,829,508.79. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Leon J. Topalian sold 48,768 shares of the company’s stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $112.61, for a total value of $5,491,764.48. Following the transaction, the chief executive officer now owns 135,809 shares of the company’s stock, valued at $15,293,451.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,175 shares of company stock valued at $6,616,198. 0.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Nucor by 4.0% during the first quarter. BlackRock Inc. now owns 23,345,048 shares of the basic materials company’s stock worth $3,470,242,000 after buying an additional 897,135 shares during the last quarter. State Street Corp lifted its holdings in shares of Nucor by 2.4% during the first quarter. State Street Corp now owns 15,803,098 shares of the basic materials company’s stock worth $2,356,620,000 after buying an additional 377,102 shares during the last quarter. FMR LLC lifted its position in Nucor by 12.5% in the second quarter. FMR LLC now owns 7,935,947 shares of the basic materials company’s stock worth $828,592,000 after purchasing an additional 878,821 shares during the period. Norges Bank acquired a new stake in Nucor during the fourth quarter worth $683,804,000. Finally, Dimensional Fund Advisors LP increased its holdings in Nucor by 9.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,782,243 shares of the basic materials company’s stock valued at $710,909,000 after buying an additional 406,834 shares during the period. 79.07% of the stock is currently owned by institutional investors and hedge funds.

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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