Nucor (NYSE:NUE) Upgraded to "Hold" at StockNews.com

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

Several other brokerages also recently commented on NUE. Citigroup reduced their price objective on shares of Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $152.00 to $150.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Jefferies Financial Group increased their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group assumed coverage on Nucor in a research report on Monday, December 2nd. They issued a "buy" rating and a $190.00 target price for the company. Finally, Morgan Stanley cut their price target on Nucor from $166.00 to $154.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Nucor currently has an average rating of "Moderate Buy" and an average price target of $163.13.

Nucor Trading Up 1.6 %

Shares of NYSE:NUE traded up $2.20 during trading on Wednesday, reaching $137.75. The stock had a trading volume of 2,108,211 shares, compared to its average volume of 2,773,291. Nucor has a 52 week low of $112.25 and a 52 week high of $203.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The firm's fifty day moving average is $124.89 and its 200 day moving average is $140.34. The stock has a market cap of $32.34 billion, a price-to-earnings ratio of 16.38 and a beta of 1.60.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating analysts' consensus estimates 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 previous year, the company earned $3.16 EPS. As a group, equities analysts forecast that Nucor will post 7.88 EPS for the current fiscal year.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st were given a dividend of $0.55 per share. This is a boost from Nucor's previous quarterly dividend of $0.54. The ex-dividend date was Tuesday, December 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.60%. Nucor's payout ratio is presently 26.16%.

Institutional Investors Weigh In On Nucor

A number of institutional investors and hedge funds have recently bought and sold shares of NUE. Widmann Financial Services Inc. boosted its position in Nucor by 4.0% in the third quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company's stock worth $271,000 after purchasing an additional 70 shares during the last quarter. Salomon & Ludwin LLC increased its position in shares of Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock valued at $35,000 after buying an additional 72 shares during the period. First Trust Direct Indexing L.P. lifted its stake in Nucor by 1.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company's stock worth $822,000 after purchasing an additional 74 shares in the last quarter. Canal Capital Management LLC raised its position in shares of Nucor by 2.5% in the fourth quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company's stock worth $359,000 after buying an additional 75 shares in the last quarter. Finally, Horrell Capital Management Inc. boosted its position in shares of Nucor by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company's stock valued at $3,111,000 after acquiring an additional 76 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

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.