Nucor (NUE) Upgraded at Longbow Research

Longbow Research upgraded shares of Nucor (NYSE:NUE) from a neutral rating to a buy rating in a research note released on Wednesday, Marketbeat.com reports.

A number of other analysts have also recently commented on NUE. BMO Capital Markets set a $70.00 target price on Nucor and gave the stock a hold rating in a research report on Saturday, August 26th. ValuEngine cut Nucor from a buy rating to a hold rating in a research report on Friday, September 1st. Bank of America reiterated a buy rating and set a $73.00 target price on shares of Nucor in a research report on Wednesday, September 6th. Macquarie initiated coverage on Nucor in a research report on Wednesday, September 6th. They set a neutral rating and a $57.00 target price on the stock. Finally, Morgan Stanley cut Nucor from an overweight rating to an equal weight rating and cut their target price for the stock from $78.00 to $60.00 in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $66.80.

Shares of Nucor (NYSE NUE) opened at $64.56 on Wednesday. The stock has a market capitalization of $20,515.17, a PE ratio of 18.77, a price-to-earnings-growth ratio of 1.49 and a beta of 1.58. The company has a current ratio of 2.11, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. Nucor has a fifty-two week low of $51.67 and a fifty-two week high of $66.00.

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, topping the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the business earned $0.88 EPS. Nucor’s revenue for the quarter was up 20.5% on a year-over-year basis. sell-side analysts predict that Nucor will post 3.61 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, December 29th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, December 28th. This is a boost from Nucor’s previous quarterly dividend of $0.38. Nucor’s payout ratio is 43.90%.

In related news, insider D. Chad Utermark sold 9,003 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $59.72, for a total value of $537,659.16. Following the transaction, the insider now owns 73,883 shares in the company, valued at approximately $4,412,292.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman John J. Ferriola sold 15,131 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $60.40, for a total value of $913,912.40. Following the completion of the transaction, the chairman now owns 349,506 shares in the company, valued at approximately $21,110,162.40. The disclosure for this sale can be found here. Insiders sold a total of 41,717 shares of company stock worth $2,470,331 in the last 90 days. 0.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Nucor by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 25,573,754 shares of the basic materials company’s stock valued at $1,479,954,000 after purchasing an additional 319,596 shares in the last quarter. Northern Trust Corp boosted its holdings in Nucor by 15.0% in the 2nd quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock valued at $333,275,000 after purchasing an additional 750,796 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Nucor by 3.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,621,566 shares of the basic materials company’s stock valued at $258,974,000 after purchasing an additional 150,219 shares in the last quarter. Prudential PLC boosted its holdings in Nucor by 28.2% in the 2nd quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock valued at $130,804,000 after purchasing an additional 496,700 shares in the last quarter. Finally, Boston Partners boosted its holdings in Nucor by 3.7% in the 3rd quarter. Boston Partners now owns 1,961,046 shares of the basic materials company’s stock valued at $109,897,000 after purchasing an additional 70,358 shares in the last quarter. 74.30% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece of content was reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.com-unik.info/2017/12/24/nucor-nue-upgraded-at-longbow-research.html.

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).

Analyst Recommendations for Nucor (NYSE:NUE)

What are top analysts saying about Nucor? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Nucor and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit