Macquarie Issues a Upgrade for Nucor (NYSE:NUE) from a Neutral to Outperform Rating

May 17, 2018 - By Margaret Downey

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Investors sentiment increased to 0.93 in Q4 2017. Its up 0.04, from 0.89 in 2017Q3. It is positive, as 53 investors sold Nucor Corporation shares while 231 reduced holdings. 92 funds opened positions while 173 raised stakes. 244.43 million shares or 5.15% more from 232.46 million shares in 2017Q3 were reported.

Checchi Cap Advisers Limited reported 0.03% stake. Stifel Financial Corporation reported 0.14% stake. Colorado-based Cetera Advisors Ltd has invested 0.05% in Nucor Corporation (NYSE:NUE). Moreover, 3G Capital L P has 3.62% invested in Nucor Corporation (NYSE:NUE). Berkshire Asset Mgmt Limited Pa reported 255,441 shares stake. South Dakota Invest Council owns 6,300 shares. 2,756 were reported by Rowland & Investment Counsel Adv. Endurance Wealth Mgmt Inc stated it has 500 shares. Amp Limited has 0.05% invested in Nucor Corporation (NYSE:NUE). Moneta Investment Lc has 5 shares for 0% of their portfolio. Riverhead Mgmt Limited Company reported 16,284 shares stake. Tiaa Cref Invest Management Ltd Limited Liability Company reported 0.06% in Nucor Corporation (NYSE:NUE). Bb&T reported 21,184 shares. Palouse Mgmt Inc, a Washington-based fund reported 122,753 shares. Cohen Management Inc holds 0.06% or 3,794 shares.

Since February 13, 2018, it had 0 buys, and 6 insider sales for $7.08 million activity. The insider HAYNES VICTORIA F sold 3,000 shares worth $207,347. NAPOLITAN RAYMOND S JR also sold $520,880 worth of Nucor Corporation (NYSE:NUE) on Monday, March 19. $2.67M worth of Nucor Corporation (NYSE:NUE) shares were sold by Frias James D. 14,313 shares valued at $917,719 were sold by FERRIOLA JOHN J on Tuesday, February 13.

Nucor (NYSE:NUE) Stock Upgrade

Nucor (NYSE:NUE)‘s stock was upgraded to a solid Outperform by equity analysts at Macquarie. NUE’s past Neutral rating is has been discontinued by the brokerage firm.

Nucor Corporation (NYSE:NUE) Ratings Coverage

Among 9 analysts covering Nucor (NYSE:NUE), 5 have Buy rating, 0 Sell and 4 Hold. Therefore 56% are positive. Nucor has $78 highest and $65 lowest target. $73.25’s average target is 11.81% above currents $65.51 stock price. Nucor had 12 analyst reports since December 20, 2017 according to SRatingsIntel. BMO Capital Markets maintained Nucor Corporation (NYSE:NUE) rating on Tuesday, January 30. BMO Capital Markets has “Hold” rating and $72.0 target. The firm has “Buy” rating given on Wednesday, December 20 by Longbow. Jefferies maintained Nucor Corporation (NYSE:NUE) on Wednesday, January 31 with “Buy” rating. As per Thursday, January 4, the company rating was maintained by Cowen & Co. The firm has “Buy” rating by Credit Suisse given on Wednesday, February 7. Credit Suisse maintained the stock with “Buy” rating in Wednesday, January 31 report. Jefferies maintained it with “Buy” rating and $77.0 target in Tuesday, January 9 report. Morgan Stanley maintained the shares of NUE in report on Tuesday, February 6 with “Equal-Weight” rating. The stock has “Equal-Weight” rating by Morgan Stanley on Tuesday, April 17. The firm has “Buy” rating given on Monday, January 8 by Bank of America.

The stock increased 0.82% or $0.53 during the last trading session, reaching $65.51. About 1.87 million shares traded. Nucor Corporation (NYSE:NUE) has risen 1.23% since May 17, 2017 and is uptrending. It has underperformed by 10.32% the S&P500.

Analysts await Nucor Corporation (NYSE:NUE) to report earnings on July, 19. They expect $1.69 EPS, up 69.00 % or $0.69 from last year’s $1 per share. NUE’s profit will be $537.60 million for 9.69 P/E if the $1.69 EPS becomes a reality. After $1.17 actual EPS reported by Nucor Corporation for the previous quarter, Wall Street now forecasts 44.44 % EPS growth.

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. The company has market cap of $20.84 billion. It operates in three divisions: Steel Mills, Steel Products, and Raw Materials. It has a 15.99 P/E ratio. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; structural steel products, including wide-flange beams, beam blanks, H-piling, and sheet pilings; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.

More news for Nucor Corporation (NYSE:NUE) were recently published by: Streetinsider.com, which released: “Macquarie Upgrades Nucor (NUE) to Outperform” on May 17, 2018. Seekingalpha.com‘s article titled: “Nucor Sees Further Growth Acceleration” and published on April 23, 2018 is yet another important article.

Nucor Corporation (NYSE:NUE) Institutional Positions Chart

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