Nucor (NYSE:NUE) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, ValuEngine reports.
NUE has been the subject of several other research reports. Goldman Sachs Group lowered their price target on shares of Nucor from $70.00 to $59.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Credit Suisse Group set a $61.00 target price on shares of Nucor and gave the company a “buy” rating in a research report on Friday, July 19th. UBS Group set a $59.00 target price on shares of Nucor and gave the company a “hold” rating in a research report on Wednesday, May 8th. KeyCorp decreased their target price on shares of Nucor from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Monday, June 17th. Finally, Deutsche Bank cut shares of Nucor from a “buy” rating to a “hold” rating in a research report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Nucor has a consensus rating of “Hold” and a consensus price target of $62.90.
Shares of NUE traded down $0.49 during mid-day trading on Thursday, hitting $52.57. The company’s stock had a trading volume of 1,805,592 shares, compared to its average volume of 2,038,134. The company has a 50-day moving average price of $54.75. Nucor has a 52-week low of $47.13 and a 52-week high of $66.03. The company has a market cap of $16.57 billion, a price-to-earnings ratio of 6.90, a price-to-earnings-growth ratio of 0.93 and a beta of 1.61. The company has a quick ratio of 1.76, a current ratio of 3.56 and a debt-to-equity ratio of 0.40.
Nucor (NYSE:NUE) last announced its quarterly earnings results on Thursday, July 18th. The basic materials company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. Nucor had a net margin of 8.84% and a return on equity of 21.65%. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same quarter in the prior year, the company earned $2.07 EPS. The company’s revenue was down 8.7% compared to the same quarter last year. Research analysts expect that Nucor will post 4.89 EPS for the current year.
In other Nucor news, insider Ladd R. Hall sold 28,998 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $56.90, for a total transaction of $1,649,986.20. Following the transaction, the insider now owns 292,776 shares in the company, valued at approximately $16,658,954.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leon J. Topalian sold 5,798 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $56.47, for a total transaction of $327,413.06. Following the transaction, the executive vice president now owns 93,559 shares in the company, valued at approximately $5,283,276.73. The disclosure for this sale can be found here. Insiders have sold 61,203 shares of company stock valued at $3,465,601 in the last three months. 0.96% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Pinnacle Bank acquired a new position in Nucor during the 4th quarter valued at approximately $26,000. Coastal Investment Advisors Inc. increased its stake in Nucor by 79.9% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 556 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 247 shares in the last quarter. Ropes Wealth Advisors LLC acquired a new position in Nucor during the 1st quarter valued at approximately $34,000. Berman Capital Advisors LLC increased its stake in Nucor by 37.9% during the 1st quarter. Berman Capital Advisors LLC now owns 677 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 186 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Nucor by 300.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 800 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 76.30% of the company’s stock.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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