Morgan Stanley Upgrades Nucor Corporation to Overweight

Brokerage firm Morgan Stanley Upgrades its rating on Nucor Corporation(NUE). The shares have been rated Overweight. Previously, the analysts had a Equal-Weight rating on the shares. The rating by the stock financial advisor at Morgan Stanley was issued on Feb 13, 2017 in a research report to their Investors and Clients.

In a different note, On Jan 9, 2017, KeyBanc said it Upgrades its rating on Nucor Corporation. The shares have been rated ‘Overweight’ by the firm. On Dec 12, 2016, Argus said it Maintains its rating on Nucor Corporation. According to the research note, Argus Raises the price target to $75 per share from a prior target of $65. The shares have been rated ‘Buy’ by the firm.

Nucor Corporation (NUE) shares turned negative on Wednesdays trading session with the shares closing down -1.25 points or -1.94% at a volume of 30,90,403. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $64.05. The peak price level was also seen at $64.05 while the days lowest was $63.065. Finally the shares closed at $63.24. The 52-week high of the shares is $68 while the 52-week low is $37.77. According to the latest information available, the market cap of the company is $20,141 M.

Nucor Corporation(NUE) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $4.25B. Analysts had an estimated revenue of $4.49B. Earnings per share were $0.76. Analysts had estimated an EPS of $0.70.

Several Insider Transactions has been reported to the SEC. On Nov 15, 2016, James R Darsey (Executive Vice President) sold 30,202 shares at $58.01 per share price.Also, On Nov 15, 2016, Robert J Stratman (Executive Vice President) sold 15,744 shares at $59.21 per share price.On Jul 28, 2016, James D Frias (CFO, Treasurer and EVP) sold 9,000 shares at $53.14 per share price, according to the Form-4 filing with the securities and exchange commission.

Nucor Corporation (Nucor) manufactures steel and steel products. The Company 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 segments: steel mills steel products and raw materials. In the steel mills segment Nucor produces and distributes sheet steel plate steel structural steel and bar steel. In the steel products segment Nucor produces steel joists and joist girders steel deck fabricated concrete reinforcing steel cold finished steel steel fasteners metal building systems steel grating and expanded metal and wire and wire mesh. In the raw materials segment the Company produces DRI; brokers ferrous and nonferrous metals pig iron HBI and DRI; supplies ferro-alloys and processes ferrous and nonferrous scrap metal.

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