Nucor (NYSE:NUE) Is a Company that Macquarie Seems to Like as Upgrade in Given

May 17, 2018 - By Eugene Smith

Nucor Corporation (NYSE:NUE) Logo

Investors sentiment increased to 0.93 in 2017 Q4. Its up 0.04, from 0.89 in 2017Q3. It improved, 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.

Clifford Swan Investment Counsel Lc accumulated 36,846 shares. 42,101 are owned by Fdx Advsrs. Moreover, Plante Moran Financial Limited has 0.01% invested in Nucor Corporation (NYSE:NUE) for 310 shares. S&T National Bank Pa, Pennsylvania-based fund reported 1,107 shares. Gradient Investments Limited Company holds 60 shares or 0% of its portfolio. 3.58 million were reported by Royal Savings Bank Of Canada. Eaton Vance Mgmt reported 379,859 shares. 19,950 were reported by Quantbot Tech L P. Bb&T Limited holds 124,673 shares. Fukoku Mutual Life Ins Comm reported 0.02% stake. The Minnesota-based Ameriprise has invested 0.16% in Nucor Corporation (NYSE:NUE). Thrivent Fincl For Lutherans holds 0.03% or 126,201 shares. Carlton Hofferkamp & Jenks Wealth Mgmt Ltd Liability Corp reported 10,704 shares. Parsons Cap Management Ri holds 0.11% or 16,225 shares in its portfolio. Brown Brothers Harriman stated it has 0% in Nucor Corporation (NYSE:NUE).

Since February 13, 2018, it had 0 insider buys, and 6 sales for $7.08 million activity. On Wednesday, March 7 the insider HAYNES VICTORIA F sold $207,347. FERRIOLA JOHN J also sold $917,719 worth of Nucor Corporation (NYSE:NUE) on Tuesday, February 13. $2.66M worth of Nucor Corporation (NYSE:NUE) shares were sold by HALL LADD R. Another trade for 39,037 shares valued at $2.67M was made by Frias James D on Monday, February 19.

Nucor (NYSE:NUE) Stock Upgrade

In a research report issued to clients on Thursday morning, Macquarie announced that they have decided to upgrade shares of Nucor (NYSE:NUE) stock from a “Neutral” to a “Outperform”.

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 11.39% above currents $65.76 stock price. Nucor had 12 analyst reports since December 20, 2017 according to SRatingsIntel. The firm has “Buy” rating given on Wednesday, January 31 by Jefferies. The rating was maintained by Morgan Stanley on Tuesday, April 17 with “Equal-Weight”. The firm earned “Buy” rating on Monday, January 8 by Bank of America. The stock of Nucor Corporation (NYSE:NUE) has “Buy” rating given on Tuesday, January 9 by Jefferies. Credit Suisse maintained it with “Buy” rating and $73.0 target in Wednesday, January 31 report. On Wednesday, December 20 the stock rating was upgraded by Longbow to “Buy”. As per Wednesday, February 7, the company rating was upgraded by Credit Suisse. BMO Capital Markets maintained the stock with “Hold” rating in Tuesday, January 30 report. The stock of Nucor Corporation (NYSE:NUE) has “Equal-Weight” rating given on Tuesday, February 6 by Morgan Stanley. Cowen & Co maintained Nucor Corporation (NYSE:NUE) on Thursday, January 4 with “Hold” rating.

The stock increased 1.20% or $0.78 during the last trading session, reaching $65.76. About 2.82 million shares traded or 11.05% up from the average. Nucor Corporation (NYSE:NUE) has risen 1.23% since May 18, 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 $537.58M for 9.73 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 $20.92 billion. It operates in three divisions: Steel Mills, Steel Products, and Raw Materials. It has a 16.05 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: Seekingalpha.com, which released: “Nucor Sees Further Growth Acceleration” on April 23, 2018. Streetinsider.com‘s article titled: “Macquarie Upgrades Nucor (NUE) to Outperform” and published on May 17, 2018 is yet another important article.

Nucor Corporation (NYSE:NUE) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.