Nucor Corporation (NUE) Earns Buy Rating from Jefferies Group LLC

Jefferies Group LLC reiterated their buy rating on shares of Nucor Corporation (NYSE:NUE) in a report issued on Friday. The firm currently has a $68.00 price objective on the basic materials company’s stock.

NUE has been the topic of a number of other research reports. BidaskClub raised shares of Nucor Corporation from a sell rating to a hold rating in a report on Tuesday, June 13th. Zacks Investment Research cut shares of Nucor Corporation from a hold rating to a sell rating in a report on Wednesday, July 19th. Credit Suisse Group cut their price objective on shares of Nucor Corporation from $68.00 to $63.00 and set a buy rating on the stock in a report on Thursday, September 28th. KeyCorp reissued an overweight rating and set a $66.00 price objective (down previously from $72.00) on shares of Nucor Corporation in a report on Monday, June 26th. Finally, ValuEngine cut shares of Nucor Corporation from a buy rating to a hold rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $67.13.

Nucor Corporation (NUE) opened at 55.40 on Friday. Nucor Corporation has a 52 week low of $45.30 and a 52 week high of $68.00. The firm has a market cap of $17.70 billion, a price-to-earnings ratio of 15.55 and a beta of 1.54. The firm’s 50-day moving average is $54.92 and its 200-day moving average is $57.61.

Nucor Corporation (NYSE:NUE) last released its quarterly earnings data on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.06). Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same period in the previous year, the business posted $0.73 EPS. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities analysts anticipate that Nucor Corporation will post $3.91 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 29th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.51 annualized dividend and a yield of 2.73%. Nucor Corporation’s dividend payout ratio is currently 43.77%.

In other Nucor Corporation news, insider Leon J. Topalian sold 2,626 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.23, for a total value of $158,163.98. Following the transaction, the insider now directly owns 19,610 shares of the company’s stock, valued at approximately $1,181,110.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John J. Ferriola sold 14,941 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the completion of the transaction, the chairman now directly owns 361,847 shares in the company, valued at $21,772,333.99. The disclosure for this sale can be found here. Insiders sold a total of 22,604 shares of company stock worth $1,351,495 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in NUE. Mckinley Capital Management LLC Delaware acquired a new position in Nucor Corporation in the 2nd quarter valued at $100,000. Krilogy Financial LLC increased its stake in Nucor Corporation by 4,594.6% in the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,700 shares during the period. Washington Trust Bank increased its stake in Nucor Corporation by 60.2% in the 2nd quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock valued at $102,000 after buying an additional 660 shares during the period. Fiduciary Trust Co. acquired a new position in Nucor Corporation in the 2nd quarter valued at $109,000. Finally, Sun Life Financial INC increased its stake in Nucor Corporation by 23,290.0% in the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials c

NUE has been the topic of a number of other research reports. BidaskClub raised shares of Nucor Corporation from a sell rating to a hold rating in a report on Tuesday, June 13th. Zacks Investment Research cut shares of Nucor Corporation from a hold rating to a sell rating in a report on Wednesday, July 19th. Credit Suisse Group cut their price objective on shares of Nucor Corporation from $68.00 to $63.00 and set a buy rating on the stock in a report on Thursday, September 28th. KeyCorp reissued an overweight rating and set a $66.00 price objective (down previously from $72.00) on shares of Nucor Corporation in a report on Monday, June 26th. Finally, ValuEngine cut shares of Nucor Corporation from a buy rating to a hold rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $67.13.

Nucor Corporation (NUE) opened at 55.40 on Friday. Nucor Corporation has a 52 week low of $45.30 and a 52 week high of $68.00. The firm has a market cap of $17.70 billion, a price-to-earnings ratio of 15.55 and a beta of 1.54. The firm’s 50-day moving average is $54.92 and its 200-day moving average is $57.61.

Nucor Corporation (NYSE:NUE) last released its quarterly earnings data on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.06). Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same period in the previous year, the business posted $0.73 EPS. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities analysts anticipate that Nucor Corporation will post $3.91 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://ledgergazette.com/2017/10/10/nucor-corporation-nue-earns-buy-rating-from-jefferies-group-llc.html.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 29th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.51 annualized dividend and a yield of 2.73%. Nucor Corporation’s dividend payout ratio is currently 43.77%.

In other Nucor Corporation news, insider Leon J. Topalian sold 2,626 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.23, for a total value of $158,163.98. Following the transaction, the insider now directly owns 19,610 shares of the company’s stock, valued at approximately $1,181,110.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John J. Ferriola sold 14,941 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the completion of the transaction, the chairman now directly owns 361,847 shares in the company, valued at $21,772,333.99. The disclosure for this sale can be found here. Insiders sold a total of 22,604 shares of company stock worth $1,351,495 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in NUE. Mckinley Capital Management LLC Delaware acquired a new position in Nucor Corporation in the 2nd quarter valued at $100,000. Krilogy Financial LLC increased its stake in Nucor Corporation by 4,594.6% in the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,700 shares during the period. Washington Trust Bank increased its stake in Nucor Corporation by 60.2% in the 2nd quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock valued at $102,000 after buying an additional 660 shares during the period. Fiduciary Trust Co. acquired a new position in Nucor Corporation in the 2nd quarter valued at $109,000. Finally, Sun Life Financial INC increased its stake in Nucor Corporation by 23,290.0% in the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock valued at $135,000 after buying an additional 2,329 shares during the period. 74.86% of the stock is currently owned by institutional investors.

Nucor Corporation 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).

Analyst Recommendations for Nucor Corporation (NYSE:NUE)

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