Berenberg Downgrades Nucor Corporation to Hold

Brokerage firm Berenberg Downgrades its rating on Nucor Corporation(NYSE:NUE). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Berenberg was issued on Jul 22, 2016.

In a different note, On Jul 20, 2016, Bank of America said it Downgrades its rating on Nucor Corporation. The shares have been rated ‘Neutral’ by the firm. On Jul 13, 2016, Barclays said it Maintains its rating on Nucor Corporation. In the research note, the firm Raises the price-target to $52.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jul 6, 2016, Deutsche Bank said it Upgrades its rating on Nucor Corporation. In the research note, the firm Raises the price-target to $52.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 24, 2016, Argus Research said it Upgrades its rating on Nucor Corporation. The shares have been rated ‘Buy’ by the firm. On Jun 10, 2016, Jefferies said it Maintains its rating on Nucor Corporation. In the research note, the firm Raises the price-target to $56.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 8, 2016, Credit Suisse said it Maintains its rating on Nucor Corporation. In the research note, the firm Raises the price-target to $45.00 per share. The shares have been rated ‘Neutral’ by the firm.

Nucor Corporation (NUE) made into the market gainers list on Thursdays trading session with the shares advancing 0.65% or 0.35 points. Due to strong positive momentum, the stock ended at $53.81, which is also near the day’s high of $53.92. The stock began the session at $53.5 and the volume stood at 32,21,696 shares. The 52-week high of the shares is $57.08 and the 52 week low is $33.9. The company has a current market capitalization of $17,108 M and it has 31,79,28,650 shares in outstanding.

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 May 3, 2016, Robert J Stratman (Executive Vice President) sold 52,631 shares at $49.90 per share price.Also, On Apr 29, 2016, D. Chad Utermark (Executive Vice President) sold 2,050 shares at $50.65 per share price.On Feb 23, 2016, Raymond S Jr Napolitan (Executive Vice President) sold 7,000 shares at $39.94 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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