Rating Report: Nucor (NUE) Gets Lower Rating From Macquarie. What Is The Stock Target?

November 29, 2016 - By Dolores Ford

Rating Report: Nucor (NUE) Gets Lower Rating From Macquarie. What Is The Stock Target?

Nucor (NUE) Downgrade

Nucor (NUE) was decreased by Macquarie from a “Neutral” rating to a “Underperform” rating in a analysts report revealed to investors on Tuesday, 29 November.

Nucor Corporation (NYSE:NUE) Ratings Coverage

Out of 3 analysts covering Nucor (NUE), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Nucor has been the topic of 3 analyst reports since August 22, 2016 according to StockzIntelligence Inc. Citigroup initiated it with “Neutral” rating and $55.0 target price in Monday, August 22 report. The company was upgraded on Wednesday, November 2 by Berenberg. The firm has “Buy” rating given on Wednesday, November 9 by Bank of America.

About 1.39M shares traded hands. Nucor Corporation (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 $160.15M for 30.36 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 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.

Northeast Fincl Consultants Inc holds 0.18% of its portfolio in Nucor Corporation (NYSE:NUE) for 8,081 shares. Calvert Inv Mngmt Inc last reported 0.11% of its portfolio in the stock. Park National Oh holds 0.16% or 52,000 shares in its portfolio. Catawba Mngmt Va holds 0.62% or 51,808 shares in its portfolio. Firstmerit Bancorporation N A Trustee holds 0.03% or 7,278 shares in its portfolio. Bnp Paribas Arbitrage Sa last reported 0.04% of its portfolio in the stock. Goldman Sachs Grp Incorporated holds 5.76 million shares or 0.09% of its portfolio. Raymond James Services Advsr has invested 0.06% of its portfolio in Nucor Corporation (NYSE:NUE). Meeder Asset Mngmt last reported 18,584 shares in the company. Moreover, Swiss National Bank has 0.07% invested in Nucor Corporation (NYSE:NUE) for 891,261 shares. Cap Int Inc Ca last reported 1,240 shares in the company. Dodge Cox holds 0% of its portfolio in Nucor Corporation (NYSE:NUE) for 72,400 shares. Advisory Services Ntwk Limited Liability Co, a Georgia-based fund reported 8,203 shares. The British Columbia – Canada-based Connor Clark And Lunn Mgmt Limited has invested 0% in Nucor Corporation (NYSE:NUE). Conning Inc has 28,953 shares for 0.06% of their US portfolio.

Insider Transactions: Since July 25, 2016, the stock had 0 insider buys, and 7 insider sales for $12.93 million net activity. Shares for $523,899 were sold by NAPOLITAN RAYMOND S JR on Monday, July 25. HALL LADD R sold 92,291 shares worth $4.84 million. 30,202 shares were sold by DARSEY JAMES R, worth $1.75M. $478,269 worth of Nucor Corporation (NYSE:NUE) shares were sold by Frias James D. Shares for $931,996 were sold by Stratman Robert J. FERRIOLA JOHN J sold $656,345 worth of Nucor Corporation (NYSE:NUE) on Wednesday, July 27.

Nucor Corporation manufactures steel and steel products. The company has a market cap of $19.45 billion. The Firm also produces direct reduced iron (DRI) for use in the Company’s steel mills. It has a 38.8 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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