Nucor Co. (NUE) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Nucor Co. (NYSE:NUE) have received an average recommendation of “Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $71.04.

Several analysts have recently commented on NUE shares. Zacks Investment Research raised shares of Nucor from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. ValuEngine raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Jefferies Group restated a “buy” rating and issued a $77.00 price objective on shares of Nucor in a report on Tuesday, January 9th. BMO Capital Markets set a $62.00 price objective on shares of Nucor and gave the company a “hold” rating in a report on Friday, November 17th. Finally, Longbow Research upgraded shares of Nucor from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th.

Shares of Nucor (NYSE NUE) traded up $2.96 during trading on Tuesday, reaching $68.54. 5,274,946 shares of the company’s stock traded hands, compared to its average volume of 3,260,000. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.42 and a quick ratio of 1.19. The company has a market capitalization of $21,790.00, a PE ratio of 16.72, a price-to-earnings-growth ratio of 1.17 and a beta of 1.56. Nucor has a 1 year low of $51.67 and a 1 year high of $70.48.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.10. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The company’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. equities analysts expect that Nucor will post 4.87 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, December 29th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This is a positive change from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 annualized dividend and a yield of 2.22%. Nucor’s dividend payout ratio (DPR) is 37.07%.

In other Nucor news, EVP Robert J. Stratman sold 39,037 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $63.88, for a total value of $2,493,683.56. Following the sale, the executive vice president now directly owns 233,824 shares in the company, valued at $14,936,677.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman John J. Ferriola sold 14,313 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $64.12, for a total transaction of $917,749.56. Following the completion of the sale, the chairman now owns 333,775 shares in the company, valued at $21,401,653. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Independence Bank of Kentucky acquired a new stake in Nucor in the fourth quarter worth $100,000. Barrett Asset Management LLC acquired a new stake in Nucor in the fourth quarter worth $101,000. Cerebellum GP LLC acquired a new stake in Nucor in the fourth quarter worth $131,000. Financial Gravity Companies Inc. acquired a new stake in Nucor in the fourth quarter worth $140,000. Finally, Woodard & Co. Asset Management Group Inc. ADV acquired a new stake in Nucor in the fourth quarter worth $147,000. Institutional investors own 74.10% 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).

Analyst Recommendations for Nucor (NYSE:NUE)

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