Nucor Co. (NYSE:NUE) Receives Consensus Rating of “Hold” from Analysts

Nucor Co. (NYSE:NUE) has received a consensus recommendation of “Hold” from the sixteen brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $64.00.

A number of brokerages recently commented on NUE. KeyCorp reduced their price objective on shares of Nucor from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Goldman Sachs Group reduced their price objective on shares of Nucor from $70.00 to $59.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. UBS Group set a $59.00 price objective on shares of Nucor and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Bank of America downgraded shares of Nucor from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $68.00 to $50.00 in a research note on Friday, May 31st. Finally, Deutsche Bank downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th.

In other news, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $58.28, for a total transaction of $582,800.00. Following the transaction, the insider now directly owns 96,778 shares of the company’s stock, valued at $5,640,221.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Leon J. Topalian sold 1,253 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $56.99, for a total value of $71,408.47. Following the transaction, the executive vice president now directly owns 46,593 shares in the company, valued at $2,655,335.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,314 shares of company stock worth $4,310,637. Insiders own 0.96% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Nucor by 3.4% in the 4th quarter. BlackRock Inc. now owns 23,134,435 shares of the basic materials company’s stock valued at $1,198,595,000 after acquiring an additional 764,927 shares during the period. Northern Trust Corp increased its position in shares of Nucor by 1.3% in the 1st quarter. Northern Trust Corp now owns 5,538,288 shares of the basic materials company’s stock valued at $323,158,000 after acquiring an additional 72,896 shares during the period. Bank of New York Mellon Corp increased its position in shares of Nucor by 10.1% in the 4th quarter. Bank of New York Mellon Corp now owns 5,454,562 shares of the basic materials company’s stock valued at $282,600,000 after acquiring an additional 500,036 shares during the period. Geode Capital Management LLC increased its position in shares of Nucor by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock valued at $258,607,000 after acquiring an additional 506,988 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Nucor by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,772,938 shares of the basic materials company’s stock valued at $247,306,000 after acquiring an additional 82,259 shares during the period. 76.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:NUE opened at $55.10 on Friday. The company has a market capitalization of $16.63 billion, a P/E ratio of 6.80, a price-to-earnings-growth ratio of 0.87 and a beta of 1.54. Nucor has a 52 week low of $47.13 and a 52 week high of $68.84. The company has a quick ratio of 1.64, a current ratio of 3.37 and a debt-to-equity ratio of 0.40. The business has a 50 day simple moving average of $52.39.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.05. The company had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $6.05 billion. Nucor had a net margin of 9.80% and a return on equity of 24.86%. Nucor’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 earnings per share. As a group, equities analysts anticipate that Nucor will post 5.2 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Thursday, June 27th. Nucor’s payout ratio is presently 21.00%.

About Nucor

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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Analyst Recommendations for Nucor (NYSE:NUE)

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