Is Nucor Corp (NYSE:NUE) Now a Sell? Morgan Stanley Downgrades Stock

September 17, 2017 - By Peter Erickson

  Is Nucor Corp (NYSE:NUE) Now a Sell? Morgan Stanley Downgrades Stock

Investors sentiment increased to 1.03 in 2016 Q4. Its up 0.06, from 0.97 in 2016Q3. It increased, as 49 investors sold Nucor Corporation shares while 230 reduced holdings. 106 funds opened positions while 180 raised stakes. 241.22 million shares or 0.70% more from 239.54 million shares in 2016Q3 were reported.

Hl Serv Lc holds 0% of its portfolio in Nucor Corporation (NYSE:NUE) for 3,674 shares. Nomura reported 0.01% stake. Sii Wi reported 49,344 shares. 1.02 million are owned by Janus Cap Mgmt Ltd Llc. Guggenheim Ltd Liability invested in 0.1% or 602,274 shares. Osborne Prns Capital Mngmt Limited Liability Corporation, California-based fund reported 51,638 shares. Moreover, Prudential Fincl has 0.11% invested in Nucor Corporation (NYSE:NUE) for 1.10M shares. Suntrust Banks invested in 0.05% or 141,346 shares. Cornerstone Cap Hldg Limited Liability Company has 0.12% invested in Nucor Corporation (NYSE:NUE) for 259,198 shares. D E Shaw And Commerce invested in 660,434 shares. Hanseatic Mngmt Services Inc has 339 shares. Argent, a Texas-based fund reported 7,234 shares. Exchange Capital has invested 0% in Nucor Corporation (NYSE:NUE). Commonwealth National Bank Of Aus, Australia-based fund reported 517,459 shares. 46 were reported by Assetmark.

Nucor Corp (NYSE:NUE) Receives a Downgrade

Morgan Stanley decreased their rating for shares of Nucor Corp (NYSE:NUE) stock to a solid Hold. This change was sent to investors in a report earlier today. The financial company now now has a $60.0 PT on company.

Investors sentiment increased to 1.03 in 2016 Q4. Its up 0.06, from 0.97 in 2016Q3. It increased, as 49 investors sold Nucor Corporation shares while 230 reduced holdings. 106 funds opened positions while 180 raised stakes. 241.22 million shares or 0.70% more from 239.54 million shares in 2016Q3 were reported.

Hl Serv Lc holds 0% of its portfolio in Nucor Corporation (NYSE:NUE) for 3,674 shares. Nomura reported 0.01% stake. Sii Wi reported 49,344 shares. 1.02 million are owned by Janus Cap Mgmt Ltd Llc. Guggenheim Ltd Liability invested in 0.1% or 602,274 shares. Osborne Prns Capital Mngmt Limited Liability Corporation, California-based fund reported 51,638 shares. Moreover, Prudential Fincl has 0.11% invested in Nucor Corporation (NYSE:NUE) for 1.10M shares. Suntrust Banks invested in 0.05% or 141,346 shares. Cornerstone Cap Hldg Limited Liability Company has 0.12% invested in Nucor Corporation (NYSE:NUE) for 259,198 shares. D E Shaw And Commerce invested in 660,434 shares. Hanseatic Mngmt Services Inc has 339 shares. Argent, a Texas-based fund reported 7,234 shares. Exchange Capital has invested 0% in Nucor Corporation (NYSE:NUE). Commonwealth National Bank Of Aus, Australia-based fund reported 517,459 shares. 46 were reported by Assetmark.

Nucor Corporation (NYSE:NUE) Ratings Coverage

Among 19 analysts covering Nucor Corporation (NYSE:NUE), 12 have Buy rating, 0 Sell and 7 Hold. Therefore 63% are positive. Nucor Corporation has $77.5000 highest and $38 lowest target. $62.77’s average target is 17.33% above currents $53.5 stock price. Nucor Corporation had 59 analyst reports since July 22, 2015 according to SRatingsIntel. The stock of Nucor Corporation (NYSE:NUE) earned “Neutral” rating by Credit Suisse on Wednesday, March 23. The rating was upgraded by Argus Research to “Buy” on Friday, June 24. The firm has “Neutral” rating by Bank of America given on Wednesday, July 20. The firm has “Hold” rating given on Wednesday, April 13 by Standpoint Research. The stock has “Buy” rating by Deutsche Bank on Wednesday, July 6. The firm has “Buy” rating given on Monday, June 26 by Jefferies. The stock of Nucor Corporation (NYSE:NUE) earned “Buy” rating by Jefferies on Wednesday, July 19. The firm earned “Buy” rating on Wednesday, November 9 by Bank of America. As per Friday, July 22, the company rating was downgraded by Berenberg. Barclays Capital maintained the shares of NUE in report on Friday, April 21 with “Buy” rating.

The stock decreased 0.85% or $0.46 on September 15, reaching $53.5. About 3.60 million shares traded or 72.25% up from the average. Nucor Corporation (NYSE:NUE) has risen 21.74% since September 17, 2016 and is uptrending. It has outperformed by 5.04% the S&P500.

Analysts await Nucor Corporation (NYSE:NUE) to report earnings on October, 19. They expect $1.06 earnings per share, up 20.45 % or $0.18 from last year’s $0.88 per share. NUE’s profit will be $338.61 million for 12.62 P/E if the $1.06 EPS becomes a reality. After $1.00 actual earnings per share reported by Nucor Corporation for the previous quarter, Wall Street now forecasts 6.00 % EPS growth.

Nucor Corporation manufactures steel and steel products. The company has market cap of $17.09 billion. The Firm produces direct reduced iron (DRI) for use in its steel mills. It has a 14.7 P/E ratio. It operates in three divisions: steel mills, steel products and raw materials.

More recent Nucor Corporation (NYSE:NUE) news were published by: Seekingalpha.com which released: “Nucor: Potential Catalysts” on September 12, 2017. Also Fool.com published the news titled: “Why Long-Term Investors Should Prefer Nucor Corporation over United States …” on August 28, 2017. Fool.com‘s news article titled: “7 Fascinating Things You Probably Didn’t Know About Nucor Corp.” with publication date: August 20, 2017 was also an interesting one.

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