Nucor (NYSE:NUE) Reaches New 1-Year Low at $137.86

Nucor Co. (NYSE:NUE) reached a new 52-week low on Wednesday . The company traded as low as $137.86 and last traded at $138.00, with a volume of 5566 shares. The stock had previously closed at $139.61.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Morgan Stanley raised Nucor from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $187.00 to $176.00 in a research report on Thursday, August 15th. BMO Capital Markets lowered their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research report on Monday, June 17th. JPMorgan Chase & Co. raised Nucor from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $170.00 to $174.00 in a research report on Monday. Finally, Jefferies Financial Group assumed coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.00.

Nucor Stock Performance

The stock has a 50-day simple moving average of $151.61 and a 200-day simple moving average of $168.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. The stock has a market cap of $32.23 billion, a PE ratio of 8.21 and a beta of 1.55.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the previous year, the business earned $5.81 earnings per share. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. Equities analysts predict that Nucor Co. will post 9.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at $15,847,840. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nucor

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in shares of Nucor in the fourth quarter worth about $625,000. Principal Securities Inc. acquired a new stake in shares of Nucor during the 4th quarter worth approximately $222,000. Ieq Capital LLC raised its position in shares of Nucor by 6.7% during the 4th quarter. Ieq Capital LLC now owns 11,825 shares of the basic materials company’s stock worth $2,058,000 after purchasing an additional 742 shares during the period. Avantax Advisory Services Inc. raised its position in shares of Nucor by 3.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 17,104 shares of the basic materials company’s stock worth $2,977,000 after purchasing an additional 649 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Nucor by 3.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 280,257 shares of the basic materials company’s stock worth $49,485,000 after purchasing an additional 8,632 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

About Nucor

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.