Stock Rating Runner: Nucor (NYSE:NUE) Loses a Vote of Confidence From Macquarie. What to Expect?

November 29, 2016 - By Clifton Ray

Stock Rating Runner: Nucor (NYSE:NUE) Loses a Vote of Confidence From Macquarie. What to Expect?

Nucor (NYSE:NUE) Downgrade

Nucor (NYSE:NUE)‘s “Neutral” rating is no longer valid. analysts at Macquarie decreased Nucor (NYSE:NUE)‘s rating to a “Underperform”.

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 -16.63% below today’s ($61.38) stock price. Nucor Corporation has been the topic of 33 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Monday, December 28 by Standpoint Research. The rating was initiated by Citigroup with “Neutral” on Monday, August 22. Bank of America upgraded Nucor Corporation (NYSE:NUE) on Wednesday, November 9 to “Buy” rating. The stock has “Neutral” rating given by Macquarie Research on Tuesday, December 22. The company was initiated on Wednesday, October 14 by Berenberg. The firm has “Buy” rating given on Wednesday, November 2 by Berenberg. The stock has “Buy” rating given by Deutsche Bank on Wednesday, July 6. The firm has “Buy” rating by Jefferies given on Thursday, September 15. Barclays Capital maintained Nucor Corporation (NYSE:NUE) on Wednesday, July 13 with “Overweight” rating. The company was downgraded on Wednesday, July 20 by Bank of America.

About 835,810 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 $160.17 million for 30.11 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 dived, 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.

Royal Bank Of Canada has invested 0.01% of its portfolio in Nucor Corporation (NYSE:NUE). Park National Corporation Oh has 52,000 shares for 0.16% of their US portfolio. The New York-based M&T Financial Bank has invested 0.03% in Nucor Corporation (NYSE:NUE). Enterprise Fin Svcs Corporation has invested 0.01% of its portfolio in Nucor Corporation (NYSE:NUE). Highbridge Management Ltd Co holds 0.04% of its portfolio in Nucor Corporation (NYSE:NUE) for 49,857 shares. Brc Inv Mgmt Ltd Liability Company owns 195,798 shares or 1.68% of their US portfolio. Atria Investments Ltd Liability Company holds 0.08% or 13,538 shares in its portfolio. The New York-based Bluemountain Cap Mngmt Ltd Liability Co has invested 0.05% in Nucor Corporation (NYSE:NUE). Osborne Partners Cap Lc holds 0.39% of its portfolio in Nucor Corporation (NYSE:NUE) for 52,488 shares. Bancshares Of New York Mellon has invested 0.09% of its portfolio in Nucor Corporation (NYSE:NUE). Bancorp Of The Ozarks holds 16,715 shares or 0.3% of its portfolio. Moreover, Lau Assoc Limited Company has 1.35% invested in Nucor Corporation (NYSE:NUE) for 26,000 shares. Axa last reported 0.01% of its portfolio in the stock. The Rhode Island-based Amica Pension Fund Board Of Trustees has invested 0.1% in Nucor Corporation (NYSE:NUE). Davenport And Communication Lc has invested 0% of its portfolio in Nucor Corporation (NYSE:NUE).

Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 7 sales for $12.93 million net activity. 30,202 shares with value of $1.75 million were sold by DARSEY JAMES R on Thursday, November 10. $656,345 worth of Nucor Corporation (NYSE:NUE) shares were sold by FERRIOLA JOHN J. 92,291 shares were sold by HALL LADD R, worth $4.84 million on Monday, July 25. Another trade for 9,000 shares valued at $478,269 was made by Frias James D on Thursday, July 28. 10,000 shares were sold by NAPOLITAN RAYMOND S JR, worth $523,899. Shares for $931,996 were sold by Stratman Robert J.

Nucor Corporation manufactures steel and steel products. The company has a market cap of $19.27 billion. The Firm also produces direct reduced iron (DRI) for use in the Company’s steel mills. It has a 38.45 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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

By

Tags: , ,

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter:


Recent Market News

>