Nucor Corporation (NYSE:NUE)‘s stock had its “buy” rating restated by stock analysts at Bank of America Corporation in a report issued on Wednesday. They currently have a $73.00 price target on the basic materials company’s stock. Bank of America Corporation’s price target points to a potential upside of 33.82% from the company’s previous close.

A number of other research firms have also commented on NUE. Cowen and Company reissued a “market perform” rating and issued a $63.00 price target (up previously from $62.00) on shares of Nucor Corporation in a research report on Tuesday, July 25th. BidaskClub raised shares of Nucor Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Morgan Stanley reissued a “buy” rating on shares of Nucor Corporation in a research report on Tuesday, July 18th. Longbow Research assumed coverage on shares of Nucor Corporation in a research report on Tuesday, May 9th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research lowered shares of Nucor Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $69.53.

Shares of Nucor Corporation (NYSE NUE) traded up 0.53% on Wednesday, hitting $54.55. 2,552,697 shares of the stock traded hands. The stock has a market cap of $17.42 billion, a price-to-earnings ratio of 15.31 and a beta of 1.53. The stock has a 50-day moving average price of $56.30 and a 200 day moving average price of $58.78. Nucor Corporation has a 12-month low of $44.81 and a 12-month high of $68.00.

Nucor Corporation (NYSE:NUE) last released its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.06. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the prior year, the business earned $0.73 EPS. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, analysts anticipate that Nucor Corporation will post $4.14 earnings per share for the current fiscal year.

WARNING: “Nucor Corporation (NUE) Stock Rating Reaffirmed by Bank of America Corporation” was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be read at https://www.americanbankingnews.com/2017/09/10/nucor-corporation-nue-stock-rating-reaffirmed-by-bank-of-america-corporation.html.

In other Nucor Corporation news, insider David A. Sumoski sold 2,537 shares of Nucor Corporation stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total transaction of $156,431.42. Following the sale, the insider now owns 62,434 shares in the company, valued at $3,849,680.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leon J. Topalian sold 2,626 shares of Nucor Corporation stock in a transaction on Monday, July 24th. The stock was sold at an average price of $60.23, for a total transaction of $158,163.98. Following the sale, the insider now owns 19,610 shares in the company, valued at approximately $1,181,110.30. The disclosure for this sale can be found here. Insiders have sold 20,104 shares of company stock worth $1,213,595 in the last quarter. Corporate insiders own 0.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Nucor Corporation by 1.3% during the second quarter. Vanguard Group Inc. now owns 25,573,754 shares of the basic materials company’s stock worth $1,479,954,000 after buying an additional 319,596 shares in the last quarter. BlackRock Inc. boosted its stake in Nucor Corporation by 1,900.5% during the first quarter. BlackRock Inc. now owns 21,654,414 shares of the basic materials company’s stock worth $1,293,202,000 after buying an additional 20,571,970 shares in the last quarter. Northern Trust Corp boosted its stake in Nucor Corporation by 15.0% during the second quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock worth $333,275,000 after buying an additional 750,796 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Nucor Corporation by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,471,347 shares of the basic materials company’s stock worth $258,776,000 after buying an additional 352,694 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Nucor Corporation by 11.7% during the first quarter. Geode Capital Management LLC now owns 3,715,181 shares of the basic materials company’s stock worth $221,600,000 after buying an additional 389,241 shares in the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.

Nucor Corporation 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 Corporation (NYSE:NUE)

Receive News & Ratings for Nucor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Corporation and related companies with MarketBeat.com's FREE daily email newsletter.