Shares of Nucor Co. (NYSE:NUE - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the nine research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $160.33.
Several research firms have recently weighed in on NUE. StockNews.com downgraded Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Morgan Stanley set a $164.00 price target on Nucor in a research report on Monday, March 24th. Jefferies Financial Group increased their price target on Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Argus set a $155.00 price target on shares of Nucor in a research report on Wednesday, March 5th.
Get Our Latest Analysis on Nucor
Nucor Trading Down 0.7%
NUE stock traded down $0.79 during midday trading on Friday, reaching $115.03. 1,197,377 shares of the company traded hands, compared to its average volume of 2,110,004. Nucor has a 52-week low of $97.59 and a 52-week high of $173.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The business has a 50 day moving average of $117.38 and a 200-day moving average of $128.20. The firm has a market capitalization of $26.52 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 0.96 and a beta of 1.73.
Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). Nucor had a net margin of 6.60% and a return on equity of 9.85%. The firm had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same quarter last year, the firm earned $3.46 EPS. The company's revenue was down 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Nucor will post 7.64 earnings per share for the current fiscal year.
Insider Buying and Selling at Nucor
In related news, CEO Leon J. Topalian sold 34,238 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the sale, the chief executive officer now owns 162,993 shares in the company, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.
Institutional Trading of Nucor
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC boosted its position in Nucor by 528.6% during the fourth quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock worth $59,235,000 after purchasing an additional 426,949 shares in the last quarter. Stephens Inc. AR raised its position in Nucor by 38.0% during the fourth quarter. Stephens Inc. AR now owns 8,455 shares of the basic materials company's stock worth $987,000 after acquiring an additional 2,327 shares during the period. Grace & White Inc. NY raised its position in Nucor by 12.0% during the fourth quarter. Grace & White Inc. NY now owns 122,339 shares of the basic materials company's stock worth $14,278,000 after acquiring an additional 13,100 shares during the period. OFC Financial Planning LLC acquired a new position in Nucor during the fourth quarter worth $878,000. Finally, SG Americas Securities LLC raised its position in Nucor by 274.7% during the fourth quarter. SG Americas Securities LLC now owns 177,232 shares of the basic materials company's stock worth $20,685,000 after acquiring an additional 129,938 shares during the period. Institutional investors and hedge funds own 76.48% of the company's stock.
Nucor Company Profile
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Get Free ReportNucor 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.
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