Nucor (NYSE:NUE) Price Target Lowered to $168.00 at JPMorgan Chase & Co.

Nucor (NYSE:NUE) had its target price trimmed by JPMorgan Chase & Co. from $170.00 to $168.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the basic materials company’s stock.

Several other research analysts also recently issued reports on the stock. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets dropped their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Morgan Stanley decreased their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Bank of America dropped their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.57.

Nucor Trading Down 3.0 %

Shares of NYSE:NUE opened at $141.66 on Wednesday. Nucor has a 12-month low of $133.42 and a 12-month high of $203.00. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $33.96 billion, a P/E ratio of 8.33 and a beta of 1.55. The firm has a fifty day moving average of $147.81 and a two-hundred day moving average of $159.39.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.57 earnings per share. On average, equities analysts expect that Nucor will post 9.08 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.52%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nucor

Institutional investors and hedge funds have recently modified their holdings of the business. GPS Wealth Strategies Group LLC grew its holdings in Nucor by 4.1% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock worth $258,000 after acquiring an additional 64 shares during the period. Chilton Capital Management LLC increased its holdings in Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in Nucor by 2.1% in the second quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company’s stock valued at $546,000 after buying an additional 71 shares during the period. Brighton Jones LLC boosted its holdings in Nucor by 3.3% during the second quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock worth $351,000 after buying an additional 71 shares during the last quarter. Finally, Brookstone Capital Management grew its position in shares of Nucor by 3.3% during the 2nd quarter. Brookstone Capital Management now owns 2,401 shares of the basic materials company’s stock worth $394,000 after buying an additional 76 shares during the period. 76.48% of the stock is owned by institutional investors.

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.