Nucor Corp (NYSE:NUE) Receives a Lower Rating From Morgan Stanley. Will This be Detrimental to the Share Price?

September 17, 2017 - By Louis Casey

  Nucor Corp (NYSE:NUE) Receives a Lower Rating From Morgan Stanley. Will This be Detrimental to the Share Price?

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.

Illinois-based Rothschild Investment Corporation Il has invested 0.16% in Nucor Corporation (NYSE:NUE). Illinois-based Nuveen Asset Lc has invested 0.03% in Nucor Corporation (NYSE:NUE). British Columbia Invest Mngmt holds 196,530 shares or 0.1% of its portfolio. Cap Investors has invested 0.1% of its portfolio in Nucor Corporation (NYSE:NUE). Highlander Capital Management Ltd Liability Com owns 100 shares or 0.01% of their US portfolio. Allianz Asset Mngmt Ag holds 87,982 shares or 0% of its portfolio. State Treasurer State Of Michigan, Michigan-based fund reported 104,111 shares. Twin Tree Mgmt Lp stated it has 0.03% in Nucor Corporation (NYSE:NUE). Atria Llc has invested 0.02% in Nucor Corporation (NYSE:NUE). 9,314 were reported by Tower Rech Capital Ltd Liability (Trc). Oakworth Cap reported 700 shares. Boltwood reported 15,225 shares or 0.69% of all its holdings. Globeflex Cap Lp holds 0.39% or 26,267 shares. Sumitomo Mitsui owns 1.02 million shares for 0.1% of their portfolio. Quantres Asset Limited has invested 1.17% in Nucor Corporation (NYSE:NUE).

Nucor Corp (NYSE:NUE) Receives a Downgrade

In an analyst note revealed to investors and clients on Tuesday morning, Morgan Stanley announced a downgrade to shares of Nucor Corp (NYSE:NUE) to a “Hold” rating. The firm has a $60.0 TP on the 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.

Illinois-based Rothschild Investment Corporation Il has invested 0.16% in Nucor Corporation (NYSE:NUE). Illinois-based Nuveen Asset Lc has invested 0.03% in Nucor Corporation (NYSE:NUE). British Columbia Invest Mngmt holds 196,530 shares or 0.1% of its portfolio. Cap Investors has invested 0.1% of its portfolio in Nucor Corporation (NYSE:NUE). Highlander Capital Management Ltd Liability Com owns 100 shares or 0.01% of their US portfolio. Allianz Asset Mngmt Ag holds 87,982 shares or 0% of its portfolio. State Treasurer State Of Michigan, Michigan-based fund reported 104,111 shares. Twin Tree Mgmt Lp stated it has 0.03% in Nucor Corporation (NYSE:NUE). Atria Llc has invested 0.02% in Nucor Corporation (NYSE:NUE). 9,314 were reported by Tower Rech Capital Ltd Liability (Trc). Oakworth Cap reported 700 shares. Boltwood reported 15,225 shares or 0.69% of all its holdings. Globeflex Cap Lp holds 0.39% or 26,267 shares. Sumitomo Mitsui owns 1.02 million shares for 0.1% of their portfolio. Quantres Asset Limited has invested 1.17% in Nucor Corporation (NYSE:NUE).

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 firm has “Hold” rating by Standpoint Research given on Wednesday, April 13. The stock of Nucor Corporation (NYSE:NUE) has “Buy” rating given on Wednesday, November 2 by Berenberg. The company was downgraded on Tuesday, November 29 by Macquarie Research. Morgan Stanley upgraded the shares of NUE in report on Monday, February 13 to “Overweight” rating. Jefferies maintained Nucor Corporation (NYSE:NUE) on Wednesday, September 16 with “Buy” rating. The firm has “Buy” rating given on Monday, October 5 by Deutsche Bank. The rating was maintained by Cowen & Co on Monday, October 26 with “Market Perform”. On Friday, April 21 the stock rating was maintained by Barclays Capital with “Buy”. As per Wednesday, March 23, the company rating was maintained by Credit Suisse. Barclays Capital maintained Nucor Corporation (NYSE:NUE) on Monday, October 5 with “Overweight” rating.

The stock decreased 0.85% or $0.46 on September 15, reaching $53.5. About 3.60M 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.

Investors wait Nucor Corporation (NYSE:NUE) to report on October, 19. its quarterly earnings Wall Street analysts expect $1.06 EPS, up $0.18 or 20.45 % from last year’s $0.88 same quarter earnings. This translates into $338.61M profit for NUE giving the stock a 12.62 P/E. This is assuming the current $1.06 EPS is accurate. Nucor Corporation’s Wall Street analysts see 6.00 % EPS growth, taking into account the $1.00 EPS reproted in the previous quarter,

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

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.