Nucor (NYSE:NUE) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Nucor (NYSE:NUE) from a hold rating to a buy rating in a report published on Wednesday morning.

Several other equities research analysts also recently issued reports on the stock. UBS Group began coverage on shares of Nucor in a research note on Tuesday, January 16th. They issued a buy rating and a $210.00 price objective on the stock. Citigroup raised Nucor from a neutral rating to a buy rating and lifted their price objective for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Nucor from $151.00 to $158.00 and gave the company a neutral rating in a report on Tuesday, December 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $186.67.

Nucor Trading Down 0.9 %

Shares of NUE stock opened at $198.18 on Wednesday. The business’s 50 day moving average is $189.96 and its two-hundred day moving average is $171.84. The company has a market cap of $47.56 billion, a PE ratio of 11.02 and a beta of 1.61. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30. Nucor has a 12 month low of $129.79 and a 12 month high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.33. The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. Nucor’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter last year, the company posted $4.89 earnings per share. Equities analysts predict that Nucor will post 13 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be issued a $0.54 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.09%. Nucor’s dividend payout ratio is 12.01%.

Insider Activity at Nucor

In related news, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the transaction, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Nucor news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the sale, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The disclosure for this sale can be found here. Insiders sold 38,151 shares of company stock valued at $7,308,683 over the last ninety days. 0.64% of the stock is owned by insiders.

Institutional Trading of Nucor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in Nucor during the 1st quarter worth about $27,000. Criterion Capital Advisors LLC bought a new stake in Nucor during the 4th quarter worth about $25,000. Tompkins Financial Corp raised its holdings in Nucor by 208.0% during the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 104 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Nucor during the 3rd quarter worth about $25,000. Finally, Valley National Advisers Inc. grew its position in shares of Nucor by 716.7% during the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after buying an additional 172 shares during the period. 76.48% of the stock is owned by institutional investors.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. 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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.