Nucor Corp. (NYSE:NUE) had its price target trimmed by Jefferies Group from $60.00 to $55.00 in a research note issued to investors on Thursday. The brokerage currently has a buy rating on the stock.

A number of other research firms have also issued reports on NUE. Credit Suisse Group AG boosted their price objective on Nucor Corp. from $45.00 to $55.00 and gave the company a neutral rating in a research report on Wednesday, June 8th. Bank of America Corp. restated a buy rating on shares of Nucor Corp. in a research report on Friday, June 17th. Argus upgraded 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. Zacks Investment Research upgraded Nucor Corp. from a hold rating to a buy rating and set a $54.00 price objective for the company in a research report on Monday, June 27th. Finally, Deutsche Bank AG upgraded Nucor Corp. from a hold rating to a buy rating and boosted their price objective for the company from $52.00 to $60.00 in a research report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $53.14.

Shares of Nucor Corp. (NYSE:NUE) opened at 46.00 on Thursday. Nucor Corp. has a 12-month low of $33.90 and a 12-month high of $57.08. The firm has a 50-day moving average price of $49.88 and a 200 day moving average price of $49.34. The firm has a market cap of $14.64 billion, a price-to-earnings ratio of 31.53 and a beta of 1.48.

Nucor Corp. (NYSE:NUE) last issued its earnings results on Thursday, July 21st. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. The company earned $4.25 billion during the quarter, compared to analyst estimates of $4.49 billion. Nucor Corp. had a return on equity of 8.58% and a net margin of 3.00%. On average, equities research analysts anticipate that Nucor Corp. will post $2.72 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, September 30th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, September 28th. Nucor Corp.’s payout ratio is 102.04%.

In related news, Chairman John J. Ferriola sold 12,128 shares of Nucor Corp. stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $54.12, for a total value of $656,367.36. Following the transaction, the chairman now directly owns 354,420 shares in the company, valued at approximately $19,181,210.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James R. Darsey sold 71,465 shares of Nucor Corp. stock in a transaction on Monday, July 25th. The stock was sold at an average price of $52.45, for a total value of $3,748,339.25. Following the completion of the transaction, the insider now owns 234,135 shares in the company, valued at $12,280,380.75. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of NUE. Hills Bank & Trust Co. boosted its position in shares of Nucor Corp. by 61.6% in the first quarter. Hills Bank & Trust Co. now owns 27,195 shares of the company’s stock worth $1,286,000 after buying an additional 10,370 shares during the last quarter. PGGM Investments boosted its position in shares of Nucor Corp. by 2.5% in the first quarter. PGGM Investments now owns 209,432 shares of the company’s stock worth $9,906,000 after buying an additional 5,081 shares during the last quarter. UMB Bank N A MO boosted its position in shares of Nucor Corp. by 1.0% in the first quarter. UMB Bank N A MO now owns 26,475 shares of the company’s stock worth $1,253,000 after buying an additional 265 shares during the last quarter. Manning & Napier Advisors LLC boosted its position in shares of Nucor Corp. by 1.4% in the first quarter. Manning & Napier Advisors LLC now owns 27,952 shares of the company’s stock worth $1,321,000 after buying an additional 393 shares during the last quarter. Finally, Berkshire Asset Management LLC PA boosted its position in shares of Nucor Corp. by 8.2% in the first quarter. Berkshire Asset Management LLC PA now owns 138,888 shares of the company’s stock worth $6,569,000 after buying an additional 10,491 shares during the last quarter. Institutional investors and hedge funds own 78.07% of the company’s stock.

Nucor Corp. Company Profile

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.

5 Day Chart for NYSE:NUE

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