Nucor (NYSE:NUE) Lifted to "Buy" at StockNews.com

Nucor (NYSE:NUE - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Wednesday.

Other research analysts have also recently issued research reports about the stock. Citigroup raised shares of Nucor from a "neutral" rating to a "buy" rating and boosted their price target for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. JPMorgan Chase & Co. increased their price objective on Nucor from $151.00 to $158.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 12th. Finally, UBS Group started coverage on Nucor in a report on Tuesday, January 16th. They set a "buy" rating and a $210.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $186.67.

Nucor Stock Performance

NUE traded down $1.70 during trading on Wednesday, reaching $198.18. 806,185 shares of the company's stock were exchanged, compared to its average volume of 1,405,765. Nucor has a 1 year low of $129.79 and a 1 year high of $203.00. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35. The stock has a market capitalization of $47.56 billion, a P/E ratio of 11.02 and a beta of 1.61. The company's fifty day simple moving average is $189.96 and its 200-day simple moving average is $171.84.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.83 by $0.33. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same period last year, the firm posted $4.89 EPS. Nucor's revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, research analysts predict that Nucor will post 13 earnings per share for the current fiscal year.

Insider Buying and Selling at Nucor

In other news, EVP Douglas J. Jellison sold 19,506 shares of the company's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the transaction, the executive vice president now owns 120,738 shares in the company, valued at approximately $23,351,936.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of the company's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the sale, the executive vice president now directly owns 120,738 shares in the company, valued at $23,351,936.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of the company's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now owns 24,873 shares of the company's stock, valued at $4,817,153.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,151 shares of company stock valued at $7,308,683. 0.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nucor

Several institutional investors and hedge funds have recently made changes to their positions in NUE. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Nucor during the third quarter worth $25,000. Criterion Capital Advisors LLC bought a new position in shares of Nucor in the 4th quarter valued at about $25,000. Rise Advisors LLC acquired a new position in shares of Nucor during the 1st quarter worth approximately $27,000. Providence Capital Advisors LLC grew its stake in shares of Nucor by 15,470.4% in the first quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company's stock valued at $27,000 after buying an additional 4,177 shares in the last quarter. Finally, Tompkins Financial Corp grew its position in shares of Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Company Profile

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.

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