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NUE

Nucor

$57.99

-0.23 (-0.40%)

09:11
04/18/19
04/18
09:11
04/18/19
09:11

Nucor' announces Chief Digital Officer retirement, executive changes

Nucor's Chief Digital Officer and Executive VP, R. Joseph Stratman, plans to retire on June 8 after more than 29 years of service with Nucor. Effective May 19, MaryEmily Slate will be promoted to Executive VP and will assume responsibilities for the Tubular Products Group, logistics and certain joint ventures. Slate began her career with Nucor in 2000 as District Sales Manager at Nucor Steel-Arkansas. She was promoted to Vice President of Nucor Steel-Arkansas in 2015. Ladd Hall will continue to serve as Executive VP of Sheet Products, and Ray Napolitan will assume responsibility for Nucor's digital initiatives while continuing his role as Executive Vice President of Engineered Bar Products.

  • 23

    Apr

  • 09

    May

NUE Nucor
$57.99

-0.23 (-0.40%)

03/11/19
03/11/19
DOWNGRADE

Neutral
Nucor downgraded to Neutral on limited earnings visibility at Longbow
As previously reported, Longbow downgraded Nucor to Neutral from Buy. Analyst Chris Olin's carbon steel market checks indicate muted demand growth for all major products, with negative momentum most apparent for plate, merchant bar and SBQ. Further, there has been a "tepid" response to the sheet and rebar price increase announcements, the analyst wrote in a note to investors. Olin lowered Nucor's full year estimate to better reflect only a partial acceptance of recent mill price increases, rising material costs, and a modest contraction in mini-mill metal spreads and expects management to lower the current year estimate to better reflect increased risks.
03/11/19
03/11/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. JetBlue (JBLU) downgraded to Equal Weight from Overweight at Barclays with analyst Brandon Oglenski lowering his price target for the shares to $20 from $27. 2. Nucor (NUE) downgraded to Neutral from Buy at Longbow with analyst Chris Olin saying his carbon steel market checks indicate muted demand growth for all major products, with negative momentum most apparent for plate, merchant bar and SBQ. 3. Oracle (ORCL) downgraded to Reduce from Buy at Nomura Instinet with analyst Christopher Eberle saying Oracle's buyback program has helped drive the stock to near all-time highs, but the rate of $10B in buybacks per quarter "can't last forever." 4. Greenbrier (GBX) and Trinity Industries (TRN) downgraded to Sector Weight from Overweight at KeyBanc. 5. Zumiez (ZUMZ) downgraded to Hold from Buy at Pivotal Research with analyst Mitch Kummetz saying the stock's risk/reward is no longer compelling after bouncing 40% off the mid-December lows. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/18/19
STPT
03/18/19
UPGRADE
STPT
Buy
Nucor upgraded to Buy from Hold at Standpoint Research
03/19/19
JPMS
03/19/19
NO CHANGE
JPMS
JPMorgan cuts steel estimates on 'steeper than expected' price decline
JPMorgan analyst Michael Gambardella lowered his 2019 estimates for AK Steel (AKS), Nucor (NUE), Steel Dynamics (STLD) and U.S. Steel (X) to reflect the "steeper than expected" price decline for steel sheet prices in Q4 of 2018 and the lagged impact on Q1 of 2019. However, the analyst believes prices have bottomed and he sees improving steel prices going into Q2. Demand remains solid, and global iron ore prices have moved higher along with U.S. scrap prices, Gambardella tells investors in a research note. He keeps an Overweight rating on all four names while lowering his price target for Nucor to $81 from $83, for Steel Dynamics to $46 from $51 and for U.S. Steel to $33 from $34.

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