Nucor (NYSE:NUE) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Nucor (NYSE:NUE) from a sell rating to a hold rating in a research report released on Friday.

Several other equities analysts have also commented on the company. Citigroup reduced their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley set a $164.00 price target on shares of Nucor in a research report on Monday, March 24th. UBS Group upgraded shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $156.00 to $160.00 in a report on Monday, March 24th. Jefferies Financial Group increased their target price on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group lowered their price target on shares of Nucor from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

Nucor Trading Up 1.5 %

Shares of NUE opened at $110.62 on Friday. Nucor has a 1-year low of $97.59 and a 1-year high of $193.61. The company has a market capitalization of $25.50 billion, a P/E ratio of 13.15, a P/E/G ratio of 0.96 and a beta of 1.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The firm’s 50 day simple moving average is $125.13 and its 200 day simple moving average is $133.27.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the prior year, the company posted $3.16 earnings per share. Sell-side analysts forecast that Nucor will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.99%. Nucor’s dividend payout ratio is presently 26.16%.

Institutional Investors Weigh In On Nucor

Several institutional investors and hedge funds have recently bought and sold shares of the business. Canal Capital Management LLC raised its holdings in shares of Nucor by 2.5% during the fourth quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company’s stock valued at $359,000 after acquiring an additional 75 shares in the last quarter. Horrell Capital Management Inc. raised its holdings in Nucor by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company’s stock worth $3,111,000 after purchasing an additional 76 shares in the last quarter. Highline Wealth Partners LLC lifted its position in shares of Nucor by 2.6% in the 1st quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company’s stock worth $423,000 after purchasing an additional 90 shares during the period. TCI Wealth Advisors Inc. boosted its stake in shares of Nucor by 4.4% during the 4th quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 91 shares in the last quarter. Finally, Jessup Wealth Management Inc increased its position in shares of Nucor by 0.9% during the fourth quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company’s stock valued at $1,229,000 after buying an additional 93 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

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.