Nucor (NUE) is Initiated by Standpoint Research to Hold

Nucor (NUE) is Initiated by Standpoint Research to Hold , according to the research report released to the investors. The shares recommendation by the Brokerage Firm was released on Dec-28-2015.

The company shares have dropped 16.3% in the past 52 Weeks. On June 3, 2015 The shares registered one year high of $50.7 and one year low was seen on September 28, 2015 at $36.76. The 50-day moving average is $40.85 and the 200 day moving average is recorded at $42.68. S&P 500 has rallied 1.33% during the last 52-weeks.

Shares of Nucor Corporation (NYSE:NUE) appreciated by 5.66% during the past week but lost 1.63% on a 4-week basis. The shares have outperformed the S&P 500 by 2.82% in the past week but underperformed the index by 0.24% in the last 4 weeks.

During the last several months other analysts have commented on the company rating. Equity Analysts at the Brokerage Firm, Macquarie, maintains their rating on the shares of Nucor Corporation (NYSE:NUE). Macquarie has a Neutral rating on the shares. As per the latest research report, the brokerage house lowers the price target to $38 per share from a prior target of $47. The rating by the firm was issued on December 22, 2015.

Nucor Corporation (NYSE:NUE) : On Thursday heightened volatility was witnessed in Nucor Corporation (NYSE:NUE) which led to swings in the share price. The shares opened for trading at $41.01 and hit $41.265 on the upside , eventually ending the session at $41.07, with a gain of 0.07% or 0.03 points. The heightened volatility saw the trading volume jump to 624,404 shares. The 52-week high of the share price is $50.697 and the company has a market cap of $13,127 million. The 52-week low of the share price is at $36.76 .

On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, Hayes Gregory, director of Nucor Corp, executed a transaction worth $200,435 on April 28, 2015. A total of 4,050 shares were purchased at an average price of $49.49. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

Nucor Corporation (NYSE:NUE): 11 Brokerage firm Analysts have agreed with the mean estimate for the short term price target of $50.27 in Nucor Corporation (NYSE:NUE). However, the stock price could fluctuate by $ 5.24 from the estimate as it is suggested by the standard deviation reading. The higher estimate has been put at $62 price target with the lower price estimate is calculated at $42

Nucor Corporation and its affiliates (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. The Company’s operations include several international trading companies that buy and sell steel and steel products manufactured by the Company and others. In 2012, it recycled approximately 19.2 million tons of scrap steel. In May 2012, ArcelorMittal announced the sale of its steel foundation distribution business in NAFTA, namely Skyline Steel and Astralloy (Skyline Steel) to Nucor. The transaction includes 100% of ArcelorMittal’s interest in Skyline Steel’s operations in the NAFTA countries and the Caribbean.In June 2012, the Company acquired Skyline Steel LLC and its subsidiaries. In August 2012, the Company completed the sale of the assets of their Nucor Wire Products Pennsylvania facility located in New Salem, Pennsylvania, to an affiliate of Wire Mesh Corporation.