Longbow Research reiterated their buy rating on shares of Nucor Corporation (NYSE:NUE) in a research note issued to investors on Thursday, July 27th. The brokerage currently has a $66.00 price objective on the basic materials company’s stock.
NUE has been the topic of several other research reports. Barclays PLC reissued a buy rating and set a $68.00 target price (up previously from $67.00) on shares of Nucor Corporation in a research note on Thursday, April 20th. BidaskClub raised shares of Nucor Corporation from a sell rating to a hold rating in a research note on Tuesday, June 13th. Zacks Investment Research cut shares of Nucor Corporation from a hold rating to a sell rating in a research note on Wednesday, July 19th. BMO Capital Markets reissued a hold rating and set a $68.00 target price on shares of Nucor Corporation in a research note on Monday, April 3rd. Finally, KeyCorp reissued an overweight rating and set a $66.00 target price (down previously from $72.00) on shares of Nucor Corporation in a research note on Monday, June 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $68.76.
Shares of Nucor Corporation (NYSE:NUE) traded down 0.71% during midday trading on Thursday, hitting $57.14. 1,807,892 shares of the stock were exchanged. The firm has a 50-day moving average price of $58.28 and a 200-day moving average price of $59.65. The company has a market cap of $18.31 billion, a PE ratio of 16.04 and a beta of 1.51. Nucor Corporation has a 12-month low of $44.81 and a 12-month high of $68.00. Nucor Corporation also was the recipient of some unusual options trading activity on Monday. Stock traders bought 10,201 put options on the stock. This is an increase of approximately 501% compared to the typical daily volume of 1,697 put options.
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 Thomson Reuters’ consensus estimate of $1.06 by $0.06. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.08 billion. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 EPS. On average, equities analysts predict that Nucor Corporation will post $4.18 EPS for the current year.
COPYRIGHT VIOLATION WARNING: This piece of content was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://stocknewstimes.com/2017/08/09/nucor-corporation-nysenue-stock-rating-reaffirmed-by-longbow-research-updated.html.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, June 30th will be issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, June 28th. Nucor Corporation’s dividend payout ratio is currently 43.77%.
In related news, Chairman John J. Ferriola sold 14,941 shares of the firm’s stock in a transaction that occurred on 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 filing with the SEC, which is accessible through the SEC website. Also, insider Leon J. Topalian sold 2,626 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $60.23, for a total transaction of $158,163.98. Following the sale, the insider now owns 19,610 shares of the company’s stock, valued at $1,181,110.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,104 shares of company stock valued at $1,213,595. 0.70% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Sheaff Brock Investment Advisors LLC bought a new stake in Nucor Corporation during the second quarter valued at approximately $241,000. Fiduciary Trust Co. acquired a new stake in Nucor Corporation during the second quarter worth about $109,000. Calamos Wealth Management LLC boosted its stake in Nucor Corporation by 0.9% in the second quarter. Calamos Wealth Management LLC now owns 21,528 shares of the basic materials company’s stock worth $1,246,000 after buying an additional 199 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in Nucor Corporation by 51.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 97,866 shares of the basic materials company’s stock worth $4,836,000 after buying an additional 33,413 shares during the period. Finally, Synovus Financial Corp boosted its stake in Nucor Corporation by 2.5% in the second quarter. Synovus Financial Corp now owns 7,608 shares of the basic materials company’s stock worth $440,000 after buying an additional 188 shares during the period. Institutional investors and hedge funds own 76.57% of the company’s stock.
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.
