Shares of Nucor Corporation (NYSE:NUE) have been given an average rating of “Hold” by the nineteen analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $67.20.

Several research firms have recently weighed in on NUE. Cowen and Company reissued a “market perform” rating and issued a $63.00 price target (up from $62.00) on shares of Nucor Corporation in a research note on Tuesday, July 25th. BidaskClub upgraded shares of Nucor Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Morgan Stanley restated a “buy” rating on shares of Nucor Corporation in a research report on Tuesday, July 18th. Berenberg Bank restated a “buy” rating and set a $77.50 price objective on shares of Nucor Corporation in a research report on Wednesday, July 19th. Finally, Zacks Investment Research cut shares of Nucor Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th.

Nucor Corporation (NYSE:NUE) traded up 3.296% during mid-day trading on Wednesday, hitting $57.195. 2,032,233 shares of the stock were exchanged. Nucor Corporation has a 52-week low of $45.30 and a 52-week high of $68.00. The stock has a market cap of $18.27 billion, a PE ratio of 16.066 and a beta of 1.54. The stock’s 50 day moving average is $54.96 and its 200 day moving average is $57.58.

Nucor Corporation (NYSE:NUE) last posted its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.06). The business had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 earnings per share. Analysts forecast that Nucor Corporation will post $3.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 29th will be given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, September 28th. Nucor Corporation’s dividend payout ratio is presently 43.77%.

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In other Nucor Corporation news, Chairman John J. Ferriola sold 14,941 shares of Nucor Corporation stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the completion of the sale, the chairman now directly owns 361,847 shares in the company, valued at $21,772,333.99. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Sumoski sold 2,537 shares of Nucor Corporation stock in a transaction dated 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 of the company’s stock, valued at $3,849,680.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,604 shares of company stock valued at $1,351,495. Company insiders own 0.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in NUE. BlackRock Inc. increased its position in shares of 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 valued at $1,293,202,000 after acquiring an additional 20,571,970 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Nucor Corporation by 17.3% during the first quarter. Vanguard Group Inc. now owns 25,254,158 shares of the basic materials company’s stock valued at $1,508,179,000 after acquiring an additional 3,729,281 shares during the last quarter. Pioneer Investment Management Inc. increased its position in shares of Nucor Corporation by 437.2% during the second quarter. Pioneer Investment Management Inc. now owns 1,813,506 shares of the basic materials company’s stock valued at $104,947,000 after acquiring an additional 1,475,935 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Nucor Corporation by 1,351.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,207,726 shares of the basic materials company’s stock valued at $72,124,000 after acquiring an additional 1,124,541 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Nucor Corporation by 53.6% during the first quarter. AQR Capital Management LLC now owns 2,513,579 shares of the basic materials company’s stock valued at $150,111,000 after acquiring an additional 877,194 shares during the last quarter. Institutional investors and hedge funds own 74.86% 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)

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