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Morgan Stanley Remains a Hold on Nucor (NUE)

In a report released today, Carlos De Alba from Morgan Stanley maintained a Hold rating on Nucor (NUEResearch Report), with a price target of $144.00. The company’s shares closed last Wednesday at $128.51.

According to TipRanks.com, Alba is a 5-star analyst with an average return of 34.6% and a 66.3% success rate. Alba covers the Basic Materials sector, focusing on stocks such as Compania de Minas Buenaventura SAA, United States Steel, and Nexa Resources SA.

Nucor has an analyst consensus of Moderate Buy, with a price target consensus of $160.86, representing a 22.6% upside. In a report issued on April 26, J.P. Morgan also maintained a Hold rating on the stock with a $146.00 price target.

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The company has a one-year high of $187.90 and a one-year low of $87.71. Currently, Nucor has an average volume of 3.26M.

Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NUE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment comprises carbon and alloy steel in sheet, bars, structural and plate; steel trading businesses; rebar distribution businesses; and Nucor’s equity method investments. The Steel Products segment includes steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, metal building systems, steel grating, tubular products businesses, piling products business, and wire and wire mesh. The Raw Materials segment consists direct reduced iron, and ferrous and nonferrous metals. The company was founded by Ransom E. Olds in 1905 and is headquartered in Charlotte, NC.

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