Nucor Corp. (NYSE:NUE) shot up 3.9% during trading on Wednesday . The stock traded as high as $50.86 and last traded at $50.85, with a volume of 2,218,649 shares changing hands. The stock had previously closed at $48.96.

Several brokerages have recently issued reports on NUE. TheStreet raised shares of Nucor Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, April 21st. Deutsche Bank AG downgraded shares of Nucor Corp. from a “buy” rating to a “hold” rating and increased their price objective for the stock from $48.00 to $50.00 in a research report on Wednesday, March 23rd. Argus raised shares of Nucor Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Friday, June 24th. Bank of America Corp. reissued a “buy” rating on shares of Nucor Corp. in a research report on Thursday, March 17th. Finally, Cowen and Company reissued a “market perform” rating and set a $50.00 price objective (up previously from $45.00) on shares of Nucor Corp. in a research report on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Nucor Corp. has a consensus rating of “Buy” and a consensus target price of $51.60.

The company has a market capitalization of $16.24 billion and a P/E ratio of 45.61. The stock has a 50 day moving average price of $49.10 and a 200-day moving average price of $44.68.

Nucor Corp. (NYSE:NUE) last posted its quarterly earnings results on Thursday, April 21st. The company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.05. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the firm posted $0.21 EPS. The business’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, equities analysts forecast that Nucor Corp. will post $2.50 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Thursday, June 30th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $1.50 annualized dividend and a yield of 2.94%.

In other Nucor Corp. news, EVP D. Chad Utermark sold 2,050 shares of the company’s stock in a transaction dated Thursday, April 28th. The shares were sold at an average price of $50.65, for a total transaction of $103,832.50. Following the sale, the executive vice president now directly owns 56,621 shares of the company’s stock, valued at $2,867,853.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert J. Stratman sold 52,631 shares of the company’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $49.90, for a total transaction of $2,626,286.90. Following the sale, the executive vice president now directly owns 268,246 shares in the company, valued at $13,385,475.40. The disclosure for this sale can be found here.

Other large investors have added to or reduced their stakes in the company. OppenheimerFunds Inc. acquired a new stake in Nucor Corp. during the fourth quarter valued at approximately $1,009,000. Sei Investments Co. increased its stake in Nucor Corp. by 132.0% in the fourth quarter. Sei Investments Co. now owns 25,708 shares of the company’s stock valued at $1,036,000 after buying an additional 14,626 shares during the period. DIAM Co. Ltd. increased its stake in Nucor Corp. by 2.7% in the fourth quarter. DIAM Co. Ltd. now owns 29,736 shares of the company’s stock valued at $1,203,000 after buying an additional 784 shares during the period. Advantus Capital Management Inc increased its stake in Nucor Corp. by 2.4% in the fourth quarter. Advantus Capital Management Inc now owns 30,521 shares of the company’s stock valued at $1,230,000 after buying an additional 720 shares during the period. Finally, Globeflex Capital L P increased its stake in Nucor Corp. by 252.2% in the fourth quarter. Globeflex Capital L P now owns 35,887 shares of the company’s stock valued at $1,446,000 after buying an additional 25,699 shares during the period.

Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.

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