KeyCorp reissued their hold rating on shares of Nucor Corporation (NYSE:NUE) in a research report released on Thursday.

NUE has been the subject of several other reports. Zacks Investment Research cut shares of Nucor Corporation from a hold rating to a sell rating in a research note on Wednesday, July 19th. Credit Suisse Group decreased their price objective on shares of Nucor Corporation from $68.00 to $63.00 and set a buy rating for the company in a research note on Thursday, September 28th. ValuEngine cut shares of Nucor Corporation from a buy rating to a hold rating in a research note on Friday, September 1st. Morgan Stanley cut shares of Nucor Corporation from an overweight rating to an equal weight rating and decreased their price objective for the company from $78.00 to $60.00 in a research note on Tuesday, September 12th. Finally, Longbow Research restated a buy rating and set a $66.00 price objective on shares of Nucor Corporation in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Nucor Corporation has an average rating of Hold and an average target price of $67.32.

Shares of Nucor Corporation (NYSE:NUE) traded up 2.35% during mid-day trading on Thursday, reaching $60.00. 3,982,224 shares of the company’s stock were exchanged. Nucor Corporation has a one year low of $46.52 and a one year high of $68.00. The company has a market capitalization of $19.17 billion, a PE ratio of 16.84 and a beta of 1.54. The company’s 50-day moving average price is $55.51 and its 200-day moving average price is $57.50.

Nucor Corporation (NYSE:NUE) last announced its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The business had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the business posted $0.88 EPS. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, equities analysts expect that Nucor Corporation will post $3.77 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Thursday, September 28th. Nucor Corporation’s dividend payout ratio is currently 43.77%.

In related news, insider David A. Sumoski sold 2,537 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total value of $156,431.42. Following the completion of the sale, the insider now owns 62,434 shares of the company’s stock, valued at approximately $3,849,680.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of the sale, the director now directly owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. In the last three months, insiders sold 22,604 shares of company stock valued at $1,351,495. 0.70% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mckinley Capital Management LLC Delaware purchased a new stake in Nucor Corporation in the 2nd quarter worth $100,000. Krilogy Financial LLC increased its holdings in Nucor Corporation by 4,594.6% in the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 1,700 shares in the last quarter. Washington Trust Bank increased its holdings in Nucor Corporation by 60.2% in the 2nd quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 660 shares in the last quarter. Fiduciary Trust Co. purchased a new stake in Nucor Corporation in the 2nd quarter worth $109,000. Finally, Sun Life Financial INC increased its holdings in Nucor Corporation by 23,290.0% in the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 2,329 shares in the last quarter. 74.83% of the stock is owned by institutional investors.

About Nucor Corporation

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

Analyst Recommendations for Nucor Corporation (NYSE:NUE)

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