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

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

A number of other equities analysts have also recently weighed in on NUE. Jefferies Financial Group raised their price objective on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. The Goldman Sachs Group began coverage on Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Citigroup cut their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, UBS Group restated a “neutral” rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.13.

Nucor Trading Down 3.2 %

Shares of Nucor stock opened at $133.63 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. Nucor has a 1 year low of $112.25 and a 1 year high of $203.00. The firm has a market cap of $31.38 billion, a PE ratio of 15.89 and a beta of 1.60. The company has a 50 day simple moving average of $125.50 and a two-hundred day simple moving average of $140.71.

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. Analysts expect that Nucor will post 7.88 earnings per share for the current fiscal year.

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.54. Nucor’s payout ratio is presently 26.16%.

Institutional Investors Weigh In On Nucor

Several large investors have recently added to or reduced their stakes in NUE. Ashton Thomas Securities LLC purchased a new position in shares of Nucor during the 3rd quarter valued at $26,000. Coastline Trust Co bought a new stake in shares of Nucor during the 3rd quarter valued at $29,000. Crews Bank & Trust purchased a new stake in shares of Nucor in the fourth quarter valued at $29,000. Brown Lisle Cummings Inc. purchased a new position in Nucor during the 3rd quarter worth $30,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Nucor during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

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.