Nucor Co. (NUE) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Nucor Co. (NYSE:NUE) have been given a consensus recommendation of “Buy” by the fifteen analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $70.38.

A number of research firms recently weighed in on NUE. UBS Group set a $59.00 price target on Nucor and gave the stock a “hold” rating in a report on Wednesday, May 8th. Standpoint Research raised Nucor from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Longbow Research cut Nucor from a “buy” rating to a “neutral” rating in a report on Monday, March 11th. ValuEngine cut Nucor from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. Finally, Zacks Investment Research cut Nucor from a “hold” rating to a “strong sell” rating in a report on Friday, February 1st.

In related news, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $58.28, for a total value of $582,800.00. Following the completion of the sale, the insider now owns 96,778 shares of the company’s stock, valued at $5,640,221.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman John J. Ferriola sold 65,061 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $56.20, for a total value of $3,656,428.20. Following the completion of the sale, the chairman now directly owns 403,735 shares of the company’s stock, valued at approximately $22,689,907. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,314 shares of company stock valued at $4,310,637. Insiders own 0.96% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc boosted its position in shares of Nucor by 4.4% during the third quarter. Vanguard Group Inc now owns 28,321,567 shares of the basic materials company’s stock worth $1,797,003,000 after buying an additional 1,186,099 shares during the period. BlackRock Inc. boosted its position in shares of Nucor by 3.4% during the fourth quarter. BlackRock Inc. now owns 23,134,435 shares of the basic materials company’s stock worth $1,198,595,000 after buying an additional 764,927 shares during the period. Northern Trust Corp boosted its position in shares of Nucor by 1.3% during the first quarter. Northern Trust Corp now owns 5,538,288 shares of the basic materials company’s stock worth $323,158,000 after buying an additional 72,896 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Nucor by 10.1% during the fourth quarter. Bank of New York Mellon Corp now owns 5,454,562 shares of the basic materials company’s stock worth $282,600,000 after buying an additional 500,036 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Nucor by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock worth $258,607,000 after buying an additional 506,988 shares during the period. 79.15% of the stock is owned by hedge funds and other institutional investors.

NYSE NUE traded down $0.45 during trading hours on Friday, reaching $54.73. The company’s stock had a trading volume of 695,461 shares, compared to its average volume of 2,413,973. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 0.79 and a beta of 1.46. Nucor has a 1-year low of $49.79 and a 1-year high of $68.84. The company has a current ratio of 3.37, a quick ratio of 1.64 and a debt-to-equity ratio of 0.40.

Nucor (NYSE:NUE) last released its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.05. The company had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $6.05 billion. Nucor had a return on equity of 24.86% and a net margin of 9.80%. Nucor’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 EPS. Equities analysts predict that Nucor will post 5.75 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, March 29th were issued a $0.40 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.60 annualized dividend and a dividend yield of 2.92%. Nucor’s dividend payout ratio is presently 21.00%.

About Nucor

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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Analyst Recommendations for Nucor (NYSE:NUE)

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