Nucor (NUE) Stock Rating Upgraded by ValuEngine

Nucor (NYSE:NUE) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

A number of other research analysts also recently weighed in on the company. BMO Capital Markets set a $62.00 target price on Nucor and gave the stock a “hold” rating in a report on Friday, November 17th. Zacks Investment Research upgraded Nucor from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Cowen upped their target price on Nucor from $57.00 to $63.00 and gave the stock a “market perform” rating in a report on Monday, October 23rd. Bank of America reduced their target price on Nucor from $73.00 to $71.00 and set a “buy” rating on the stock in a report on Friday, October 20th. Finally, Credit Suisse Group upped their target price on Nucor from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $67.32.

Shares of Nucor (NYSE:NUE) traded down $0.20 during trading hours on Friday, reaching $57.30. The company had a trading volume of 3,614,842 shares, compared to its average volume of 1,817,283. Nucor has a 52 week low of $51.67 and a 52 week high of $68.00. The stock has a market cap of $18,216.64, a P/E ratio of 16.85, a PEG ratio of 1.29 and a beta of 1.58. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the business earned $0.88 EPS. Nucor’s revenue was up 20.5% compared to the same quarter last year. equities research analysts anticipate that Nucor will post 3.69 earnings per share for the current fiscal year.

In related news, insider D. Chad Utermark sold 9,003 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $59.72, for a total value of $537,659.16. Following the sale, the insider now owns 73,883 shares in the company, valued at approximately $4,412,292.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Victoria F. Haynes sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the completion of the sale, the director now owns 33,573 shares in the company, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. Insiders sold a total of 44,217 shares of company stock worth $2,608,231 in the last 90 days. 0.70% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the stock. Shelton Capital Management purchased a new stake in shares of Nucor in the 3rd quarter worth approximately $449,000. Steward Partners Investment Advisory LLC bought a new position in Nucor in the 3rd quarter valued at approximately $1,026,000. Smith Shellnut Wilson LLC ADV bought a new position in Nucor in the 3rd quarter valued at approximately $229,000. Cetera Advisor Networks LLC lifted its position in Nucor by 27.5% in the 3rd quarter. Cetera Advisor Networks LLC now owns 12,601 shares of the basic materials company’s stock valued at $703,000 after acquiring an additional 2,716 shares in the last quarter. Finally, Cetera Advisors LLC lifted its position in Nucor by 60.2% in the 3rd quarter. Cetera Advisors LLC now owns 13,580 shares of the basic materials company’s stock valued at $764,000 after acquiring an additional 5,103 shares in the last quarter. Institutional investors own 74.56% of the company’s stock.

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Nucor Company Profile

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).

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