Nucor Co. (NUE) Given Average Rating of “Buy” by Brokerages

Nucor Co. (NYSE:NUE) has earned a consensus rating of “Buy” from the seventeen analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $69.50.

Several equities analysts have issued reports on NUE shares. Credit Suisse Group upped their price objective on shares of Nucor from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Zacks Investment Research downgraded shares of Nucor from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. KeyCorp reiterated a “hold” rating on shares of Nucor in a research note on Thursday, October 19th. Longbow Research upgraded shares of Nucor from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Finally, Cowen increased their target price on shares of Nucor from $57.00 to $63.00 and gave the stock a “market perform” rating in a research note on Monday, October 23rd.

In related news, insider D. Chad Utermark sold 9,003 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $59.72, for a total value of $537,659.16. Following the completion of the sale, the insider now owns 73,883 shares in the company, valued at $4,412,292.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert J. Stratman sold 39,037 shares of the firm’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the completion of the sale, the executive vice president now owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,754 shares of company stock valued at $4,964,014. 0.70% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue increased its holdings in Nucor by 102.2% in the fourth 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 buying an additional 17,440 shares in the last quarter. Butensky & Cohen Financial Security Inc. increased its holdings in Nucor by 3.2% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 27,570 shares of the basic materials company’s stock valued at $1,753,000 after buying an additional 845 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Nucor in the fourth quarter valued at about $513,000. Berkshire Asset Management LLC PA increased its holdings in Nucor by 10.9% in the fourth quarter. Berkshire Asset Management LLC PA now owns 255,441 shares of the basic materials company’s stock valued at $16,241,000 after buying an additional 25,033 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Nucor by 5.3% in the fourth 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 buying an additional 61,563 shares in the last quarter. 74.34% of the stock is owned by institutional investors.

Nucor (NYSE NUE) traded down $0.44 during midday trading on Friday, reaching $68.82. 2,798,200 shares of the company’s stock traded hands, compared to its average volume of 2,948,350. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37. Nucor has a one year low of $51.67 and a one year high of $70.48. The firm has a market capitalization of $21,770.00, a P/E ratio of 19.17, a PEG ratio of 1.18 and a beta of 1.58.

Nucor (NYSE:NUE) last released its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Nucor’s revenue for the quarter was up 20.5% on a year-over-year basis. sell-side analysts anticipate that Nucor will post 3.5 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, December 29th will be given a $0.38 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a yield of 2.21%. This is an increase from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio (DPR) is presently 42.34%.

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Nucor 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 (NYSE:NUE)

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