Rating Alert: Macquarie Research Gives Nucor Corporation (NYSE:NUE) Lower Rating. Lost Its “Neutral” Rating

November 29, 2016 - By Adrian Mccoy

Rating Alert: Macquarie Research Gives Nucor Corporation (NYSE:NUE) Lower Rating. Lost Its

Nucor Corporation (NYSE:NUE) Downgrade

Nucor Corporation (NYSE:NUE) was lowered by professional analysts at Macquarie Research from a “Neutral” rating to a “Underperform” rating in a research note revealed to investors on Tuesday morning.

Nucor Corporation (NYSE:NUE) Ratings Coverage

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 -16.65% below today’s ($61.39) stock price. Nucor Corporation has been the topic of 33 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Wednesday, October 14 by Berenberg. The firm has “Buy” rating by Bank of America given on Wednesday, November 9. The firm has “Buy” rating given on Wednesday, July 6 by Deutsche Bank. The firm has “Neutral” rating by Rosenblatt given on Friday, October 16. The stock of Nucor Corporation (NYSE:NUE) has “Neutral” rating given on Wednesday, July 20 by Bank of America. The company was initiated on Monday, August 22 by Citigroup. As per Monday, October 26, the company rating was maintained by Cowen & Co. The rating was downgraded by Berenberg on Friday, July 22 to “Hold”. The rating was upgraded by Nomura to “Buy” on Monday, December 14. Barclays Capital maintained the stock with “Overweight” rating in Monday, October 5 report.

About 3.13M 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 EPS, up 10.87% or $0.05 from last year’s $0.46 per share. NUE’s profit will be $160.75 million for 30.09 P/E if the $0.51 EPS becomes a reality. After $0.88 actual EPS 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 Q2 2016. Its down 0.13, from 1.1 in 2016Q1. The ratio is negative, 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.

United Cap Financial Advisers Limited Liability Company holds 37,561 shares or 0.02% of its portfolio. Glenmede Tru Co Na last reported 0.03% of its portfolio in the stock. Highstreet Asset Mgmt Incorporated holds 8,411 shares or 0.15% of its portfolio. Tompkins Financial Corporation holds 0.02% of its portfolio in Nucor Corporation (NYSE:NUE) for 1,250 shares. Grace & White New York owns 242,287 shares or 2.7% of their US portfolio. Moreover, Gateway Advisers Ltd Liability Com has 0.02% invested in Nucor Corporation (NYSE:NUE) for 48,874 shares. Eaton Vance Mgmt last reported 0.06% of its portfolio in the stock. Linscomb Williams Inc accumulated 19,162 shares or 0.1% of the stock. Wilbanks Smith And Thomas Asset Limited Co accumulated 6,554 shares or 0.03% of the stock. State Treasurer State Of Michigan holds 110,427 shares or 0.04% of its portfolio. Deutsche Savings Bank Ag has 1.14 million shares for 0.04% of their US portfolio. Proshare Limited Liability owns 902,255 shares or 0.57% of their US portfolio. Cantab Cap Ptnrs Llp last reported 0% of its portfolio in the stock. Pictet Asset Ltd accumulated 0.03% or 168,655 shares. Willis Inv Counsel has 0.82% invested in the company for 195,400 shares.

Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 7 selling transactions for $12.93 million net activity. On Thursday, November 10 Stratman Robert J sold $931,996 worth of the stock or 15,744 shares. 12,128 shares with value of $656,345 were sold by FERRIOLA JOHN J on Wednesday, July 27. 30,202 shares were sold by DARSEY JAMES R, worth $1.75M. Frias James D sold $478,269 worth of stock or 9,000 shares. Shares for $523,899 were sold by NAPOLITAN RAYMOND S JR. The insider HALL LADD R sold $4.84M.

Nucor Corporation manufactures steel and steel products. The company has a market cap of $19.35 billion. The Firm also produces direct reduced iron (DRI) for use in the Company’s steel mills. It has a 38.6 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.”

NUE Company Profile

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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