Nucor (NYSE:NUE – Get Rating) had its target price hoisted by investment analysts at BMO Capital Markets from $113.00 to $142.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ target price indicates a potential upside of 5.58% from the stock’s current price.
A number of other brokerages have also weighed in on NUE. Citigroup increased their target price on shares of Nucor to $145.00 in a research report on Tuesday, September 13th. The Goldman Sachs Group decreased their target price on shares of Nucor from $127.00 to $114.00 and set a “neutral” rating on the stock in a report on Thursday, October 6th. StockNews.com started coverage on shares of Nucor in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Credit Suisse Group decreased their price target on shares of Nucor from $165.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, September 16th. Finally, Morgan Stanley dropped their price objective on Nucor from $115.00 to $113.00 and set an “equal weight” rating for the company in a research note on Monday, October 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Nucor currently has an average rating of “Hold” and a consensus target price of $132.33.
Nucor Stock Up 0.1 %
NUE opened at $134.49 on Wednesday. The company’s 50-day moving average price is $124.24 and its two-hundred day moving average price is $126.35. The company has a quick ratio of 1.79, a current ratio of 3.10 and a debt-to-equity ratio of 0.35. Nucor has a twelve month low of $88.50 and a twelve month high of $187.90. The stock has a market cap of $35.21 billion, a price-to-earnings ratio of 4.23 and a beta of 1.48.
Nucor (NYSE:NUE – Get Rating) last posted its quarterly earnings data on Thursday, October 20th. The basic materials company reported $6.50 EPS for the quarter, beating the consensus estimate of $6.45 by $0.05. The business had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $10.43 billion. Nucor had a return on equity of 51.03% and a net margin of 19.93%. Nucor’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.28 earnings per share. As a group, equities analysts expect that Nucor will post 29.84 earnings per share for the current year.
Insider Activity at Nucor
In other news, EVP Gregory J. Murphy sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $137.29, for a total value of $411,870.00. Following the completion of the sale, the executive vice president now directly owns 49,549 shares in the company, valued at approximately $6,802,582.21. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Gregory J. Murphy sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $137.29, for a total value of $411,870.00. Following the transaction, the executive vice president now owns 49,549 shares in the company, valued at $6,802,582.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John J. Hollatz sold 2,450 shares of the stock in a transaction on Monday, October 24th. The stock was sold at an average price of $134.40, for a total value of $329,280.00. Following the completion of the transaction, the executive vice president now owns 52,282 shares of the company’s stock, valued at approximately $7,026,700.80. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by insiders.
Institutional Trading of Nucor
Large investors have recently added to or reduced their stakes in the business. Retirement Guys Formula LLC grew its position in shares of Nucor by 1.9% during the third quarter. Retirement Guys Formula LLC now owns 4,135 shares of the basic materials company’s stock worth $442,000 after purchasing an additional 79 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV grew its stake in Nucor by 3.5% during the first quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 2,385 shares of the basic materials company’s stock valued at $355,000 after acquiring an additional 80 shares in the last quarter. SRS Capital Advisors Inc. increased its holdings in Nucor by 2.0% in the 3rd quarter. SRS Capital Advisors Inc. now owns 4,088 shares of the basic materials company’s stock valued at $437,000 after acquiring an additional 81 shares during the last quarter. Mirador Capital Partners LP lifted its stake in Nucor by 1.3% in the 1st quarter. Mirador Capital Partners LP now owns 6,668 shares of the basic materials company’s stock worth $991,000 after purchasing an additional 84 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Nucor by 24.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 433 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 85 shares during the last quarter. 79.07% of the stock is currently owned by institutional investors.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products. The company’s 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.