Nucor (NYSE:NUE) Price Target Raised to $195.00

Nucor (NYSE:NUE) had its price objective lifted by JPMorgan Chase & Co. from $180.00 to $195.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Other equities research analysts have also issued research reports about the stock. UBS Group started coverage on shares of Nucor in a report on Tuesday, January 16th. They issued a buy rating and a $210.00 price target on the stock. Citigroup raised shares of Nucor from a neutral rating to a buy rating and boosted their price target for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, StockNews.com raised shares of Nucor from a hold rating to a buy rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $192.83.

Nucor Trading Down 1.0 %

Shares of NUE stock opened at $190.77 on Tuesday. Nucor has a 1 year low of $129.79 and a 1 year high of $203.00. The firm’s fifty day simple moving average is $191.09 and its 200 day simple moving average is $173.32. The firm has a market capitalization of $45.78 billion, a P/E ratio of 10.60 and a beta of 1.61. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.33. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. Nucor’s revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.89 earnings per share. As a group, sell-side analysts predict that Nucor will post 13 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be paid a $0.54 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.13%. Nucor’s dividend payout ratio is presently 12.01%.

Insider Activity

In other news, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the sale, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the transaction, the executive vice president now owns 80,902 shares in the company, valued at approximately $15,386,751.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the transaction, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,151 shares of company stock worth $7,308,683. Corporate insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cullinan Associates Inc. lifted its position in Nucor by 430.6% during the 1st quarter. Cullinan Associates Inc. now owns 6,367 shares of the basic materials company’s stock worth $1,260,000 after buying an additional 5,167 shares in the last quarter. Diversified Trust Co boosted its stake in shares of Nucor by 87.6% in the 1st quarter. Diversified Trust Co now owns 10,449 shares of the basic materials company’s stock valued at $2,068,000 after purchasing an additional 4,880 shares during the last quarter. Chapin Davis Inc. boosted its stake in shares of Nucor by 21.5% in the 1st quarter. Chapin Davis Inc. now owns 2,412 shares of the basic materials company’s stock valued at $477,000 after purchasing an additional 426 shares during the last quarter. Successful Portfolios LLC boosted its stake in shares of Nucor by 93.8% in the 1st quarter. Successful Portfolios LLC now owns 2,830 shares of the basic materials company’s stock valued at $560,000 after purchasing an additional 1,370 shares during the last quarter. Finally, SteelPeak Wealth LLC boosted its stake in shares of Nucor by 172.1% in the 1st quarter. SteelPeak Wealth LLC now owns 21,935 shares of the basic materials company’s stock valued at $4,353,000 after purchasing an additional 13,875 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.