November 29, 2016 - By Dolores Ford
Macquarie decreased shares of Nucor (NYSE:NUE) from a “Neutral” rating to a “Underperform” rating in a a report revealed to investors on Tuesday morning.
Out of 14 analysts covering Nucor Corporation (NYSE:NUE), 8 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 57% are positive. $60 is the highest target while $38 is the lowest. The $51.17 average target is -17.16% below today’s ($61.77) stock price. Nucor Corporation has been the topic of 33 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Argus Research upgraded the stock to “Buy” rating in Friday, June 24 report. The stock has “Overweight” rating given by Barclays Capital on Monday, October 5. The firm has “Neutral” rating given on Tuesday, December 22 by Macquarie Research. BB&T Capital initiated the stock with “Buy” rating in Tuesday, November 24 report. The stock has “Hold” rating given by Berenberg on Friday, July 22. Credit Suisse maintained it with “Neutral” rating and $45 target price in Wednesday, March 23 report. The company was upgraded on Monday, October 5 by Deutsche Bank. On Wednesday, July 13 the stock rating was maintained by Barclays Capital with “Overweight”. The rating was upgraded by Deutsche Bank on Wednesday, July 6 to “Buy”. The stock of Nucor Corporation (NYSE:NUE) has “Neutral” rating given on Wednesday, June 8 by Credit Suisse.
About 2.01M shares traded hands. Nucor Corporation (NYSE:NUE) has risen 25.17% since April 26, 2016 and is uptrending. It has outperformed by 19.91% the S&P500.
Analysts await Nucor Corporation (NYSE:NUE) to report earnings on January, 26. They expect $0.51 earnings per share, up 10.87% or $0.05 from last year’s $0.46 per share. NUE’s profit will be $160.17 million for 30.28 P/E if the $0.51 EPS becomes a reality. After $0.88 actual earnings per share reported by Nucor Corporation for the previous quarter, Wall Street now forecasts -42.05% negative EPS growth.
Insitutional Activity: The institutional sentiment decreased to 0.97 in 2016 Q2. Its down 0.13, from 1.1 in 2016Q1. The ratio dropped, as 43 funds sold all Nucor Corporation shares owned while 216 reduced positions. 75 funds bought stakes while 211 increased positions. They now own 243.85 million shares or 4.24% less from 254.64 million shares in 2016Q1.
Archford Cap Strategies Limited Liability Corp accumulated 0.03% or 1,292 shares. Blackrock Institutional Na has 8.53 million shares for 0.07% of their US portfolio. Brown Brothers Harriman & has invested 0% of its portfolio in Nucor Corporation (NYSE:NUE). Westpac holds 0% or 23,542 shares in its portfolio. Brookfield Asset Mgmt has 6,200 shares for 0% of their US portfolio. Ahl Llp has 59,025 shares for 0.16% of their US portfolio. State Board Of Administration Of Florida Retirement Sys last reported 463,697 shares in the company. Scout, a Missouri-based fund reported 200,087 shares. Piedmont Advsrs Lc holds 0% of its portfolio in Nucor Corporation (NYSE:NUE) for 8 shares. Linscomb And Williams has 0.1% invested in the company for 19,162 shares. Williams Jones & Associate Limited Liability Corporation has 300 shares for 0% of their US portfolio. The Illinois-based Ironbridge L P has invested 0.01% in Nucor Corporation (NYSE:NUE). Moreover, Fisher Asset Lc has 0.01% invested in Nucor Corporation (NYSE:NUE) for 115,818 shares. Chem National Bank & Trust owns 7,003 shares or 0.05% of their US portfolio. Meeder Asset Mngmt Incorporated has 0.09% invested in the company for 18,584 shares.
Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 7 selling transactions for $12.93 million net activity. Another trade for 9,000 shares valued at $478,269 was made by Frias James D on Thursday, July 28. FERRIOLA JOHN J sold 12,128 shares worth $656,345. 15,744 shares with value of $931,996 were sold by Stratman Robert J on Thursday, November 10. HALL LADD R sold 92,291 shares worth $4.84M. NAPOLITAN RAYMOND S JR sold $523,899 worth of Nucor Corporation (NYSE:NUE) on Monday, July 25. 71,465 shares were sold by DARSEY JAMES R, worth $3.75M on Monday, July 25.
Nucor Corporation manufactures steel and steel products. The company has a market cap of $19.40 billion. The Firm also produces direct reduced iron (DRI) for use in the Company’s steel mills. It has a 38.69 P/E ratio. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI.
According to Zacks Investment Research, “Nucor Corporation manufactures and sells steel products. Principal steel products are hot-rolled steel (angles, rounds, flats, channels, sheet, wide-flange beams, pilings, billets, blooms and beam blanks), cold-rolled steel, cold finished steel, steel joists and joist girders, steel deck, steel fasteners and steel grinding balls. Nucor is the largest recycler in the United States. Nucor and affiliates are manufacturers of steel products, with operating facilities in fourteen states.”
Nucor Corporation (Nucor), incorporated on March 28, 1958, makes steel and steel products. The Firm also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three divisions: steel mills, steel products and raw materials. The Company’s activities include several international trading companies that buy and sell steel and steel products manufactured by the Company and others. The Firm is also a recycler in North America, using scrap steel as the primary raw material in producing steel and steel products.
Another recent and important Nucor Corporation (NYSE:NUE) news was published by Prnewswire.com which published an article titled: “Nucor Completes Acquisition of Independence Tube Corporation” on November 01, 2016.
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By Dolores Ford