The stock of Nucor Corporation (NYSE:NUE) is a huge mover today! The stock increased 4.44% or $2.65 during the last trading session, hitting $62.31. About 4.70 million shares traded hands or 39.05% up from the average. Nucor Corporation (NYSE:NUE) has risen 18.66% since April 20, 2016 and is uptrending. It has outperformed by 14.10% the S&P500.
The move comes after 8 months positive chart setup for the $20.12 billion company. It was reported on Nov, 22 by Barchart.com. We have $67.92 PT which if reached, will make NYSE:NUE worth $1.81 billion more.
Nucor Corporation (NYSE:NUE) Ratings Coverage
Out of 14 analysts covering Nucor Corporation (NYSE:NUE), 8 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 57% are positive. Nucor Corporation has been the topic of 33 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Berenberg downgraded the stock to “Hold” rating in Monday, November 14 report. As per Tuesday, December 22, the company rating was maintained by Macquarie Research. As per Monday, October 5, the company rating was upgraded by Deutsche Bank. The firm has “Buy” rating by BB&T Capital given on Tuesday, November 24. The rating was maintained by Credit Suisse on Wednesday, June 8 with “Neutral”. Jefferies maintained the shares of NUE in a report on Thursday, September 15 with “Buy” rating. The stock of Nucor Corporation (NYSE:NUE) has “Overweight” rating given on Wednesday, July 13 by Barclays Capital. Deutsche Bank upgraded Nucor Corporation (NYSE:NUE) on Wednesday, July 6 to “Buy” rating. The stock of Nucor Corporation (NYSE:NUE) earned “Hold” rating by Standpoint Research on Monday, December 28. The stock of Nucor Corporation (NYSE:NUE) earned “Neutral” rating by Rosenblatt on Tuesday, May 10.
According to Zacks Investment Research, “Nucor Corporation manufactures and sells steel products. Principal steel products are hot-rolled steel (angles, rounds, flats, channels, sheet, wide-flange beams, pilings, billets, blooms and beam blanks), cold-rolled steel, cold finished steel, steel joists and joist girders, steel deck, steel fasteners and steel grinding balls. Nucor is the largest recycler in the United States. Nucor and affiliates are manufacturers of steel products, with operating facilities in fourteen states.”
Insitutional Activity: The institutional sentiment decreased to 0.97 in 2016 Q2. Its down 0.13, from 1.1 in 2016Q1. The ratio dropped, as 43 funds sold all Nucor Corporation shares owned while 216 reduced positions. 75 funds bought stakes while 211 increased positions. They now own 243.85 million shares or 4.24% less from 254.64 million shares in 2016Q1.
Millennium Mgmt Limited Liability, a New York-based fund reported 469,802 shares. Checchi Cap Advisers Limited Company last reported 0.02% of its portfolio in the stock. Legal And General Public Limited Company holds 0.08% of its portfolio in Nucor Corporation (NYSE:NUE) for 1.56M shares. Plante Moran Advsr Ltd Liability Corporation holds 0.02% or 432 shares in its portfolio. Kimelman And Baird Limited Co has 0.41% invested in the company for 45,910 shares. Sandy Spring Bankshares has 200 shares for 0% of their US portfolio. Farmers Tru holds 1.34% or 83,441 shares in its portfolio. Burney accumulated 8,414 shares or 0.03% of the stock. Patten And Patten Tn accumulated 0.04% or 5,190 shares. The New York-based Capital One Association has invested 0.21% in Nucor Corporation (NYSE:NUE). Rhumbline Advisers owns 457,128 shares or 0.07% of their US portfolio. Augustine Asset Management Inc has invested 0.82% of its portfolio in Nucor Corporation (NYSE:NUE). Apg Asset Mngmt Nv accumulated 456,760 shares or 0.04% of the stock. Blackrock Investment Mngmt Lc holds 687,131 shares or 0.04% of its portfolio. Pax World Mngmt Ltd Co holds 0.02% or 6,905 shares in its portfolio.
Insider Transactions: Since July 25, 2016, the stock had 0 insider buys, and 7 sales for $12.93 million net activity. $523,899 worth of shares were sold by NAPOLITAN RAYMOND S JR on Monday, July 25. Another trade for 92,291 shares valued at $4.84M was made by HALL LADD R on Monday, July 25. Another trade for 30,202 shares valued at $1.75M was made by DARSEY JAMES R on Thursday, November 10. Stratman Robert J had sold 15,744 shares worth $931,996. The insider Frias James D sold 9,000 shares worth $478,269. $656,345 worth of shares were sold by FERRIOLA JOHN J on Wednesday, July 27.
More news for Nucor Corporation (NYSE:NUE) were recently published by: Fool.com, which released: “Key Takeaways From Nucor Corporation’s Third-Quarter Earnings” on October 26, 2016. Prnewswire.com‘s article titled: “Nucor Completes Acquisition of Independence Tube Corporation” and published on November 01, 2016 is yet another important article.
NUE Company Profile
Nucor Corporation (Nucor), incorporated on March 28, 1958, makes steel and steel products. The Firm also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three divisions: steel mills, steel products and raw materials. The Company’s activities include several international trading companies that buy and sell steel and steel products manufactured by the Company and others. The Firm is also a recycler in North America, using scrap steel as the primary raw material in producing steel and steel products.
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