Nucor (NYSE:NUE) Downgraded to Sell Rating by StockNews.com

Nucor (NYSE:NUE) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

A number of other analysts have also recently weighed in on NUE. The Goldman Sachs Group began coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target for the company. Citigroup decreased their price target 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. Jefferies Financial Group lifted their price target on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Morgan Stanley dropped their price objective on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a report on Monday. Finally, UBS Group restated a “neutral” rating and set a $156.00 price objective (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.13.

Nucor Price Performance

NYSE:NUE traded up $3.14 during mid-day trading on Monday, hitting $131.57. 5,050,746 shares of the company’s stock traded hands, compared to its average volume of 2,768,014. Nucor has a 1 year low of $112.25 and a 1 year high of $203.00. The company has a market cap of $30.89 billion, a PE ratio of 15.64 and a beta of 1.60. 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 50 day simple moving average is $128.47 and its 200 day simple moving average is $142.05.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 posted $3.16 EPS. Sell-side analysts expect that Nucor will post 7.88 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Leon J. Topalian sold 11,000 shares of Nucor stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the sale, the chief executive officer now owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares in the company, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,680 shares of company stock valued at $3,452,524 in the last three months. Insiders own 0.64% of the company’s stock.

Institutional Trading of Nucor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Nucor by 2.9% in the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock valued at $1,724,117,000 after purchasing an additional 326,181 shares during the period. Geode Capital Management LLC boosted its stake in shares of Nucor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock worth $883,732,000 after acquiring an additional 74,569 shares during the period. Pacer Advisors Inc. lifted its holdings in Nucor by 19.8% during the 3rd quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock valued at $519,648,000 after purchasing an additional 571,682 shares during the last quarter. Nordea Investment Management AB boosted its position in Nucor by 25.6% during the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock worth $205,282,000 after purchasing an additional 358,721 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Nucor by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,612,216 shares of the basic materials company’s stock valued at $242,381,000 after purchasing an additional 45,467 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

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.