Nucor Co. (NYSE:NUE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Nucor Co. (NYSE:NUE) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $190.57.

A number of research firms recently weighed in on NUE. JPMorgan Chase & Co. decreased their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets decreased their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Morgan Stanley reduced their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th.

Insider Activity at Nucor

In related news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the executive vice president now directly owns 98,770 shares in the company, valued at approximately $14,499,436. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nucor

Institutional investors have recently added to or reduced their stakes in the company. Chilton Capital Management LLC grew its position in Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 65 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Nucor in the first quarter worth about $28,000. Salomon & Ludwin LLC purchased a new stake in shares of Nucor in the first quarter worth about $31,000. McClarren Financial Advisors Inc. boosted its position in shares of Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after buying an additional 89 shares during the period. Finally, Brown Lisle Cummings Inc. purchased a new stake in shares of Nucor in the third quarter worth about $30,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 1.2 %

NYSE:NUE opened at $143.56 on Wednesday. The stock’s 50 day moving average price is $147.56 and its 200 day moving average price is $156.54. The company has a market capitalization of $34.07 billion, a PE ratio of 13.87 and a beta of 1.55. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. Nucor has a 52-week low of $133.42 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last announced its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same period last year, the business posted $4.57 EPS. The company’s revenue was down 15.2% on a year-over-year basis. On average, research analysts anticipate that Nucor will post 8.65 EPS for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.50%. Nucor’s payout ratio is currently 20.87%.

About Nucor

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.