Jefferies Group reissued their buy rating on shares of Nucor (NYSE:NUE) in a research note published on Tuesday, January 9th. Jefferies Group currently has a $77.00 price target on the basic materials company’s stock. Jefferies Group also issued estimates for Nucor’s Q4 2017 earnings at $0.55 EPS, FY2018 earnings at $4.62 EPS and FY2019 earnings at $4.94 EPS.
Several other brokerages also recently issued reports on NUE. Bank of America set a $75.00 price objective on shares of Nucor and gave the company a buy rating in a research report on Monday, January 8th. Zacks Investment Research raised shares of Nucor from a sell rating to a hold rating and set a $76.00 price objective for the company in a research report on Monday, January 8th. ValuEngine raised shares of Nucor from a hold rating to a buy rating in a research report on Sunday, December 31st. Longbow Research raised shares of Nucor from a neutral rating to a buy rating in a research report on Wednesday, December 20th. Finally, Cowen raised their price target on shares of Nucor from $57.00 to $63.00 and gave the stock a market perform rating in a research report on Monday, October 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $68.37.
Shares of Nucor (NYSE:NUE) opened at $69.26 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12. Nucor has a 1 year low of $51.67 and a 1 year high of $70.48. The stock has a market cap of $21,920.36, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 1.21 and a beta of 1.58.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Thursday, December 28th. This is an increase from Nucor’s previous quarterly dividend of $0.38. Nucor’s payout ratio is currently 44.19%.
In other Nucor news, insider D. Chad Utermark sold 9,003 shares of Nucor stock in a transaction on Friday, October 27th. The shares were sold at an average price of $59.72, for a total value of $537,659.16. Following the completion of the transaction, the insider now owns 73,883 shares of the company’s stock, valued at $4,412,292.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert J. Stratman sold 39,037 shares of Nucor stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the completion of the transaction, the executive vice president now directly owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,754 shares of company stock valued at $4,964,014. 0.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Berkshire Asset Management LLC PA boosted its holdings in Nucor by 10.9% in the fourth quarter. Berkshire Asset Management LLC PA now owns 255,441 shares of the basic materials company’s stock worth $16,241,000 after purchasing an additional 25,033 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Nucor by 5.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,229,908 shares of the basic materials company’s stock valued at $78,198,000 after buying an additional 61,563 shares during the last quarter. Coastline Trust Co bought a new stake in Nucor in the fourth quarter valued at $350,000. Creative Planning lifted its stake in Nucor by 4.3% in the fourth quarter. Creative Planning now owns 32,481 shares of the basic materials company’s stock valued at $2,065,000 after buying an additional 1,341 shares during the last quarter. Finally, Searle & CO. lifted its stake in Nucor by 4.7% in the fourth quarter. Searle & CO. now owns 44,650 shares of the basic materials company’s stock valued at $2,839,000 after buying an additional 2,000 shares during the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.
WARNING: “Nucor (NUE) Stock Rating Reaffirmed by Jefferies Group” was published by BBNS and is the sole property of of BBNS. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and international copyright laws. The original version of this piece can be accessed at https://baseballnewssource.com/markets/jefferies-group-reiterates-buy-rating-for-nucor-nue/1824432.html.
Nucor Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.