Nucor Co. (NYSE:NUE) Given Average Recommendation of “Moderate Buy” by Analysts

Nucor Co. (NYSE:NUE) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $183.75.

A number of brokerages have commented on NUE. Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. cut their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. UBS Group reiterated a “neutral” rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. BMO Capital Markets reduced their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Finally, The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company.

Insider Activity

In other news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. This represents a 8.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the sale, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,680 shares of company stock worth $4,773,724. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nucor

A number of large investors have recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. lifted its position in Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 89 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Nucor during the 3rd quarter valued at about $26,000. Coastline Trust Co bought a new stake in shares of Nucor during the 3rd quarter valued at $29,000. Brown Lisle Cummings Inc. purchased a new stake in Nucor in the 3rd quarter worth $30,000. Finally, Salomon & Ludwin LLC raised its holdings in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 72 shares during the period. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

NUE stock opened at $117.96 on Thursday. The firm has a 50 day moving average of $147.34 and a 200-day moving average of $150.42. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $27.70 billion, a P/E ratio of 11.40 and a beta of 1.55. Nucor has a 12 month low of $117.57 and a 12 month high of $203.00.

Nucor (NYSE:NUE) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter in the prior year, the firm earned $4.57 earnings per share. The firm’s revenue was down 15.2% on a year-over-year basis. As a group, sell-side analysts predict that Nucor will post 8.48 earnings per share for the current fiscal year.

Nucor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. This is a positive change from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is currently 21.26%.

About Nucor

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.