Nucor (NYSE:NUE) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Nucor (NYSE:NUE) from a hold rating to a sell rating in a report released on Monday.

Other equities analysts also recently issued research reports about the stock. UBS Group raised shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $156.00 to $160.00 in a report on Monday, March 24th. The Goldman Sachs Group cut their price target on Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a report on Monday. Argus set a $155.00 target price on Nucor in a research report on Wednesday, March 5th. Citigroup reduced their price target on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Morgan Stanley set a $164.00 price target on Nucor in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.11.

Nucor Stock Up 11.4 %

Shares of NYSE:NUE opened at $115.47 on Monday. The company has a 50 day moving average of $128.38 and a two-hundred day moving average of $135.11. Nucor has a 52-week low of $97.59 and a 52-week high of $199.15. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $26.62 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 0.96 and a beta of 1.67.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping 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 period last year, the company posted $3.16 EPS. As a group, analysts forecast that Nucor will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio is presently 26.16%.

Institutional Investors Weigh In On Nucor

Several hedge funds have recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Nucor during the fourth quarter valued at $25,000. Crews Bank & Trust purchased a new stake in shares of Nucor in the fourth quarter worth approximately $29,000. Putney Financial Group LLC acquired a new stake in shares of Nucor during the fourth quarter worth approximately $29,000. New Wave Wealth Advisors LLC purchased a new position in Nucor during the fourth quarter valued at approximately $33,000. Finally, Versant Capital Management Inc increased its stake in shares of Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

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.