Nucor (NYSE:NUE) Rating Lowered to “Sell” at StockNews.com

Nucor (NYSE:NUE) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group increased their target price on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Morgan Stanley decreased their target price on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a research note on Monday. JPMorgan Chase & Co. dropped their price target on Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Citigroup reduced their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, UBS Group reiterated a “neutral” rating and issued a $156.00 target price (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and an average target price of $163.13.

Nucor Price Performance

Shares of NYSE:NUE opened at $130.78 on Monday. The firm has a 50 day moving average of $128.03 and a 200-day moving average of $141.81. Nucor has a 12 month low of $112.25 and a 12 month high of $203.00. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $30.71 billion, a PE ratio of 15.55 and a beta of 1.60.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating the consensus estimate of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the prior year, the company earned $3.16 earnings per share. On average, equities research analysts predict that Nucor will post 7.88 EPS for the current fiscal year.

Insider Transactions at Nucor

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.64% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Lake Street Advisors Group LLC grew its stake in Nucor by 8.8% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,851 shares of the basic materials company’s stock valued at $217,000 after acquiring an additional 150 shares during the period. Sprott Inc. lifted its stake in Nucor by 8.5% during the 4th quarter. Sprott Inc. now owns 194,349 shares of the basic materials company’s stock valued at $22,682,000 after acquiring an additional 15,200 shares in the last quarter. Horizon Advisory Services Inc. grew its position in Nucor by 9.0% in the 4th quarter. Horizon Advisory Services Inc. now owns 1,850 shares of the basic materials company’s stock worth $216,000 after purchasing an additional 153 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Nucor by 6.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,679,176 shares of the basic materials company’s stock worth $195,977,000 after buying an additional 104,238 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. boosted its stake in shares of Nucor by 19.8% in the 4th quarter. Blackhawk Capital Partners LLC. now owns 4,406 shares of the basic materials company’s stock worth $514,000 after buying an additional 727 shares during the last quarter. 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.