Nucor (NYSE:NUE) Lowered to Hold at StockNews.com

StockNews.com cut shares of Nucor (NYSE:NUE) from a buy rating to a hold rating in a research report released on Tuesday morning.

A number of other research firms also recently issued reports on NUE. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $180.00 to $195.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Citigroup upgraded Nucor from a neutral rating to a buy rating and upped their price objective for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, UBS Group initiated coverage on Nucor in a report on Tuesday, January 16th. They issued a buy rating and a $210.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $192.83.

Nucor Trading Down 8.9 %

Shares of NUE opened at $174.64 on Tuesday. Nucor has a fifty-two week low of $129.79 and a fifty-two week high of $203.00. The company has a market capitalization of $41.91 billion, a PE ratio of 9.71 and a beta of 1.61. The stock has a fifty day moving average of $191.20 and a two-hundred day moving average of $174.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a net margin of 13.03% and a return on equity of 21.42%. The business had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same quarter in the previous year, the company posted $4.45 earnings per share. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, analysts forecast that Nucor will post 12.93 EPS for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Wednesday, March 27th. Nucor’s payout ratio is 12.01%.

Insider Activity

In related news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Kenneth Rex Query sold 5,500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the sale, the executive vice president now directly owns 85,326 shares in the company, valued at $15,902,206.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the transaction, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,151 shares of company stock worth $7,308,683. 0.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nucor

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Rise Advisors LLC bought a new stake in shares of Nucor in the first quarter worth $27,000. Criterion Capital Advisors LLC bought a new stake in shares of Nucor in the 4th quarter worth about $25,000. Tompkins Financial Corp raised its stake in shares of Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Nucor by 54.1% during the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 59 shares during the last quarter. Finally, Valley National Advisers Inc. grew its stake in Nucor by 716.7% in the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 172 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.