Nucor Co. (NYSE:NUE) Receives Consensus Recommendation of “Hold” from Brokerages

Nucor Co. (NYSE:NUE) has been assigned a consensus rating of “Hold” from the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $61.89.

A number of research firms have weighed in on NUE. KeyCorp decreased their price objective on Nucor from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Monday, June 17th. UBS Group set a $59.00 price objective on Nucor and gave the company a “hold” rating in a research report on Wednesday, May 8th. Deutsche Bank lowered Nucor from a “buy” rating to a “hold” rating in a research report on Thursday, May 30th. Credit Suisse Group set a $61.00 price objective on Nucor and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Bank of America lowered Nucor from a “buy” rating to an “underperform” rating and cut their price objective for the company from $68.00 to $50.00 in a research report on Friday, May 31st.

In other news, insider Ladd R. Hall sold 28,998 shares of Nucor stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $56.90, for a total transaction of $1,649,986.20. Following the sale, the insider now directly owns 292,776 shares of the company’s stock, valued at $16,658,954.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Raymond S. Napolitan, Jr. sold 7,214 shares of Nucor stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $56.32, for a total value of $406,292.48. Following the sale, the insider now directly owns 143,826 shares in the company, valued at $8,100,280.32. The disclosure for this sale can be found here. Insiders sold 61,203 shares of company stock worth $3,465,601 over the last three months. 0.96% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Nucor by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,772,938 shares of the basic materials company’s stock valued at $247,306,000 after purchasing an additional 82,259 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Nucor by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock valued at $258,607,000 after purchasing an additional 506,988 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Nucor by 14.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 151,559 shares of the basic materials company’s stock valued at $8,843,000 after purchasing an additional 18,563 shares during the last quarter. IFM Investors Pty Ltd increased its position in shares of Nucor by 10.1% during the 1st quarter. IFM Investors Pty Ltd now owns 20,028 shares of the basic materials company’s stock valued at $1,169,000 after purchasing an additional 1,831 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in shares of Nucor by 0.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 74,324 shares of the basic materials company’s stock valued at $4,336,000 after purchasing an additional 350 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Nucor stock traded down $1.98 during mid-day trading on Friday, reaching $46.95. 1,610,432 shares of the company were exchanged, compared to its average volume of 1,865,940. Nucor has a twelve month low of $46.76 and a twelve month high of $66.03. The firm’s 50-day simple moving average is $53.13 and its two-hundred day simple moving average is $55.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.76 and a current ratio of 3.56. The firm has a market cap of $14.83 billion, a PE ratio of 6.16, a price-to-earnings-growth ratio of 0.83 and a beta of 1.61.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Thursday, July 18th. The basic materials company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Nucor had a return on equity of 21.65% and a net margin of 8.84%. The company had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same period last year, the firm earned $2.07 EPS. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. As a group, equities research analysts anticipate that Nucor will post 4.86 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, June 28th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.41%. The ex-dividend date was Thursday, June 27th. Nucor’s dividend payout ratio (DPR) 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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