Nucor (NYSE:NUE) Upgraded at UBS Group

UBS Group upgraded shares of Nucor (NYSE:NUE) from a neutral rating to a buy rating in a report issued on Monday, MarketBeat Ratings reports. They currently have $160.00 target price on the basic materials company’s stock, up from their prior target price of $156.00.

A number of other equities analysts also recently commented on the company. Jefferies Financial Group lifted their price objective on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Morgan Stanley lifted their price target on Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. The Goldman Sachs Group started coverage on shares of Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Argus set a $155.00 price target on shares of Nucor in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.78.

Nucor Trading Down 0.3 %

Shares of NUE stock opened at $127.18 on Monday. Nucor has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The firm has a market capitalization of $29.32 billion, a P/E ratio of 15.12, a PEG ratio of 0.96 and a beta of 1.58. The stock’s fifty day moving average is $130.94 and its two-hundred day moving average is $137.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 last year, the firm earned $3.16 EPS. Research analysts expect that Nucor will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is currently 26.16%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Nucor in the 4th quarter valued at about $25,000. Crews Bank & Trust acquired a new stake in Nucor in the fourth quarter valued at approximately $29,000. Putney Financial Group LLC purchased a new position in Nucor in the fourth quarter worth approximately $29,000. New Wave Wealth Advisors LLC acquired a new position in Nucor during the 4th quarter worth approximately $33,000. Finally, Versant Capital Management Inc increased its position in shares of Nucor by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 114 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

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.