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Nucor Corp. (NYSE:NUE) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, reports. The analysts noted that the move was a valuation call.

Nucor Corp. (NYSE:NUE) traded up 0.06% on Tuesday, hitting $51.57. 2,686,427 shares of the company’s stock traded hands. Nucor Corp. has a 52-week low of $41.32 and a 52-week high of $54.73. The stock’s 50-day moving average is $52.19 and its 200-day moving average is $49.45. The company has a market cap of $16.410 billion and a P/E ratio of 36.30.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, February 11th. Investors of record on Tuesday, December 31st will be given a dividend of 0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Friday, December 27th. This is an increase from Nucor Corp.’s previous quarterly dividend of $0.37.

Other equities research analysts have also recently issued reports about the stock. Analysts at CIBC reiterated a “sector underperform” rating on shares of Nucor Corp. in a research note to investors on Tuesday, December 17th. Separately, analysts at Sanford C. Bernstein initiated coverage on shares of Nucor Corp. in a research note to investors on Thursday, December 12th. They set a “market perform” rating and a $56.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Nucor Corp. from $55.00 to $59.00 in a research note to investors on Wednesday, December 4th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $53.29.

Nucor Corporation and its affiliates (NYSE:NUE) manufactures steel and steel products.

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