Nucor (NYSE:NUE) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Nucor (NYSE:NUE - Free Report) from a sell rating to a hold rating in a research note published on Friday morning.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group boosted their price target on Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. The Goldman Sachs Group reduced their price target on shares of Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Argus set a $155.00 price objective on shares of Nucor in a research report on Wednesday, March 5th. Citigroup reduced their target price on Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Finally, Morgan Stanley set a $164.00 price objective on Nucor in a research report on Monday, March 24th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.33.

Nucor Stock Performance

Nucor stock traded up $2.85 during mid-day trading on Friday, hitting $112.47. 1,043,169 shares of the company's stock traded hands, compared to its average volume of 2,069,261. Nucor has a fifty-two week low of $97.59 and a fifty-two week high of $183.95. The stock has a market cap of $25.93 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 0.96 and a beta of 1.67. The firm has a 50 day simple moving average of $124.07 and a two-hundred day simple moving average of $132.55. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same period in the prior year, the firm posted $3.16 earnings per share. On average, research analysts expect that Nucor will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be issued a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.96%. Nucor's dividend payout ratio (DPR) is presently 26.16%.

Hedge Funds Weigh In On Nucor

Several institutional investors and hedge funds have recently added to or reduced their stakes in NUE. Canal Capital Management LLC boosted its stake in Nucor by 2.5% during the fourth quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company's stock worth $359,000 after acquiring an additional 75 shares in the last quarter. Horrell Capital Management Inc. grew its stake in shares of Nucor by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company's stock worth $3,111,000 after buying an additional 76 shares during the last quarter. Highline Wealth Partners LLC boosted its holdings in Nucor by 2.6% in the first quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company's stock worth $423,000 after acquiring an additional 90 shares in the last quarter. TCI Wealth Advisors Inc. grew its stake in shares of Nucor by 4.4% in the fourth quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company's stock worth $252,000 after acquiring an additional 91 shares during the last quarter. Finally, Jessup Wealth Management Inc raised its position in shares of Nucor by 0.9% in the 4th quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company's stock worth $1,229,000 after purchasing an additional 93 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

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.