Shares of Nucor Corporation (NYSE:NUE) have received a consensus recommendation of “Buy” from the nineteen research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $68.60.
NUE has been the topic of a number of research analyst reports. Morgan Stanley reissued a “buy” rating on shares of Nucor Corporation in a research note on Tuesday, July 18th. ValuEngine cut Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. BMO Capital Markets set a $70.00 price objective on Nucor Corporation and gave the company a “hold” rating in a research note on Saturday, August 26th. Longbow Research raised Nucor Corporation from a “neutral” rating to a “buy” rating in a research note on Monday, June 19th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $66.00 price objective (down from $72.00) on shares of Nucor Corporation in a research note on Monday, June 26th.
In other news, Chairman John J. Ferriola sold 14,941 shares of the 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David A. Sumoski sold 2,537 shares of the stock in a transaction dated Tuesday, July 25th. The stock was 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 20,104 shares of company stock valued at $1,213,595. 0.70% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Intl Fcstone Inc. purchased a new stake in shares of Nucor Corporation during the second quarter worth about $550,000. Griffin Asset Management Inc. purchased a new stake in shares of Nucor Corporation during the second quarter worth about $2,832,000. Lord Abbett & CO. LLC boosted its holdings in shares of Nucor Corporation by 97.2% during the second quarter. Lord Abbett & CO. LLC now owns 568,200 shares of the basic materials company’s stock worth $32,882,000 after purchasing an additional 280,100 shares during the period. RNC Capital Management LLC boosted its holdings in shares of Nucor Corporation by 9.5% during the second quarter. RNC Capital Management LLC now owns 87,838 shares of the basic materials company’s stock worth $5,083,000 after purchasing an additional 7,630 shares during the period. Finally, Sentry Investment Management LLC lifted its holdings in Nucor Corporation by 1.3% in the second quarter. Sentry Investment Management LLC now owns 20,879 shares of the basic materials company’s stock worth $1,208,000 after buying an additional 260 shares during the period. Institutional investors own 75.00% of the company’s stock.
Nucor Corporation (NYSE NUE) traded down 0.85% during midday trading on Friday, hitting $53.50. The company had a trading volume of 3,595,327 shares. The firm’s 50 day moving average is $55.44 and its 200-day moving average is $58.47. Nucor Corporation has a 52 week low of $45.30 and a 52 week high of $68.00. The firm has a market capitalization of $17.09 billion, a P/E ratio of 15.02 and a beta of 1.53.
Nucor Corporation (NYSE:NUE) last released its 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). The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.08 billion. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The firm’s revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 EPS. On average, equities research analysts expect that Nucor Corporation will post $4.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.82%. Nucor Corporation’s dividend payout ratio is currently 43.77%.
TRADEMARK VIOLATION NOTICE: “Nucor Corporation (NUE) Given Average Recommendation of “Buy” by Analysts” was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://www.chaffeybreeze.com/2017/09/16/nucor-corporation-nue-given-average-recommendation-of-buy-by-analysts.html.
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).
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.