Notable Ownership Action: Nucor Corp (NYSE:NUE) First Quarter Institutional Investor Sentiment Steady

November 25, 2016 - By Richard Conner   ·   0 Comments

Notable Ownership Action: Nucor Corp (NYSE:NUE) First Quarter Institutional Investor Sentiment Steady

Sentiment for Nucor Corp (NYSE:NUE)

Nucor Corp (NYSE:NUE) institutional sentiment decreased to 0.97 in Q2 2016. Its down -0.13, from 1.1 in 2016Q1. The ratio is negative, as 286 funds started new and increased positions, while 259 sold and trimmed positions in Nucor Corp. The funds in our partner’s database reported: 243.85 million shares, down from 254.64 million shares in 2016Q1. Also, the number of funds holding Nucor Corp in their top 10 positions decreased from 4 to 1 for a decrease of 3. Sold All: 43 Reduced: 216 Increased: 211 New Position: 75.

Nucor Corporation manufactures steel and steel products. The company has a market cap of $20.07 billion. The Firm also produces direct reduced iron (DRI) for use in the Company’s steel mills. It has a 39.36 P/E ratio. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI.

About 496,082 shares traded hands. Nucor Corporation (NYSE:NUE) has risen 26.16% since April 22, 2016 and is uptrending. It has outperformed by 20.75% the S&P500.

Analysts await Nucor Corporation (NYSE:NUE) to report earnings on January, 26. They expect $0.51 EPS, up 10.87% or $0.05 from last year’s $0.46 per share. NUE’s profit will be $162.97M for 30.80 P/E if the $0.51 EPS becomes a reality. After $0.88 actual EPS reported by Nucor Corporation for the previous quarter, Wall Street now forecasts -42.05% negative EPS growth.

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.”

Cincinnati Indemnity Co holds 4.81% of its portfolio in Nucor Corporation for 22,500 shares. Jolley Asset Management Llc owns 72,214 shares or 2.87% of their US portfolio. Moreover, Grace & White Inc Ny has 2.7% invested in the company for 242,287 shares. The Illinois-based State Farm Mutual Automobile Insurance Co has invested 2.27% in the stock. Peregrine Asset Advisers Inc., a Oregon-based fund reported 66,507 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 7 insider sales for $12.93 million net activity.

Nucor Corporation (NYSE:NUE) Ratings Coverage

Ratings analysis reveals 57% of Nucor Corporation’s analysts are positive. Out of 14 Wall Street analysts rating Nucor Corporation, 8 give it “Buy”, 0 “Sell” rating, while 6 recommend “Hold”. The lowest target is $38 while the high is $60. The stock’s average target of $51.17 is -18.56% below today’s ($62.83) share price. NUE was included in 33 notes of analysts from July 22, 2015. The firm has “Buy” rating by Jefferies given on Thursday, September 15. The stock of Nucor Corporation (NYSE:NUE) earned “Buy” rating by Nomura on Monday, December 14. The firm earned “Hold” rating on Monday, December 28 by Standpoint Research. Argus Research upgraded Nucor Corporation (NYSE:NUE) rating on Friday, June 24. Argus Research has “Buy” rating and $58 price target. The firm earned “Neutral” rating on Wednesday, June 8 by Credit Suisse. The stock has “Buy” rating given by Deutsche Bank on Monday, October 5. The firm earned “Overweight” rating on Tuesday, January 12 by Barclays Capital. The company was downgraded on Friday, July 22 by Berenberg. The company was upgraded on Wednesday, July 6 by Deutsche Bank. The firm earned “Buy” rating on Wednesday, November 9 by Bank of America.

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.

Another recent and important Nucor Corporation (NYSE:NUE) news was published by Prnewswire.com which published an article titled: “Nucor Completes Acquisition of Independence Tube Corporation” on November 01, 2016.

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By Richard Conner


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