Shares of Nucor Co. (NYSE:NUE) have received a consensus recommendation of “Buy” from the sixteen ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $71.96.
A number of brokerages recently commented on NUE. UBS began coverage on Nucor in a research report on Tuesday, April 17th. They issued a “neutral” rating and a $65.00 target price on the stock. Macquarie upgraded Nucor from a “neutral” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Thursday, May 17th. ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded Nucor from a “hold” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a research report on Tuesday, February 13th. Finally, Morgan Stanley dropped their target price on Nucor from $70.00 to $68.00 and set a “hold” rating on the stock in a research report on Tuesday, February 6th.
In other news, Director Victoria F. Haynes sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $60.91, for a total transaction of $109,638.00. Following the completion of the transaction, the director now directly owns 28,773 shares of the company’s stock, valued at approximately $1,752,563.43. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $65.11, for a total value of $520,880.00. Following the transaction, the executive vice president now directly owns 78,381 shares of the company’s stock, valued at $5,103,386.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,800 shares of company stock worth $837,878. Insiders own 0.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in NUE. Creative Planning raised its stake in shares of Nucor by 4.3% during the 4th quarter. Creative Planning now owns 32,481 shares of the basic materials company’s stock worth $2,065,000 after buying an additional 1,341 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Nucor by 5.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,229,908 shares of the basic materials company’s stock valued at $78,198,000 after purchasing an additional 61,563 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Nucor in the 4th quarter valued at $513,000. State of Alaska Department of Revenue raised its stake in Nucor by 102.2% in the 4th quarter. State of Alaska Department of Revenue now owns 34,507 shares of the basic materials company’s stock valued at $2,192,000 after purchasing an additional 17,440 shares during the last quarter. Finally, Cerebellum GP LLC acquired a new position in Nucor in the 4th quarter valued at $131,000. 78.50% of the stock is owned by institutional investors and hedge funds.
Shares of NUE stock opened at $63.97 on Thursday. Nucor has a fifty-two week low of $51.67 and a fifty-two week high of $70.48. The stock has a market cap of $20.35 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 0.91 and a beta of 1.55. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 2.49.
Nucor (NYSE:NUE) last issued its earnings results on Thursday, April 19th. The basic materials company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.07. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.50 billion. Nucor had a return on equity of 12.94% and a net margin of 6.33%. Nucor’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 earnings per share. sell-side analysts predict that Nucor will post 5.95 EPS for the current year.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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