Nucor Corporation (NYSE:NUE) has been given a $62.00 target price by investment analysts at BMO Capital Markets in a report released on Friday. The firm presently has a “hold” rating on the basic materials company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 13.14% from the company’s current price.
NUE has been the topic of a number of other research reports. Credit Suisse Group raised their target price on shares of Nucor Corporation from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Zacks Investment Research upgraded shares of Nucor Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Bank of America Corporation restated a “buy” rating and issued a $73.00 target price on shares of Nucor Corporation in a research report on Wednesday, September 6th. Citigroup Inc. set a $66.00 target price on shares of Nucor Corporation and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, Cowen and Company reiterated a “market perform” rating and set a $63.00 price target (up previously from $62.00) on shares of Nucor Corporation in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $67.32.
Nucor Corporation (NYSE:NUE) opened at $54.80 on Friday. The stock has a market cap of $17,420.00, a P/E ratio of 16.14, a P/E/G ratio of 1.24 and a beta of 1.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12. Nucor Corporation has a one year low of $51.67 and a one year high of $68.00.
Nucor Corporation (NYSE:NUE) last announced its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Nucor Corporation had a net margin of 5.80% and a return on equity of 12.78%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. equities analysts anticipate that Nucor Corporation will post 3.7 EPS for the current fiscal year.
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In related news, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total transaction of $137,900.00. Following the transaction, the director now directly owns 33,573 shares in the company, valued at $1,851,886.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ladd R. Hall sold 17,583 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the transaction, the insider now owns 206,406 shares in the company, valued at $11,959,163.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,217 shares of company stock valued at $2,608,231. 0.70% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Mckinley Capital Management LLC Delaware purchased a new position in Nucor Corporation during the second quarter worth about $100,000. Krilogy Financial LLC boosted its holdings in Nucor Corporation by 4,594.6% during the second quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,700 shares during the last quarter. Washington Trust Bank boosted its holdings in Nucor Corporation by 60.2% during the second quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 660 shares during the last quarter. Fiduciary Trust Co. purchased a new position in Nucor Corporation during the second quarter worth about $109,000. Finally, Sun Life Financial INC boosted its holdings in Nucor Corporation by 23,290.0% during the second quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock worth $135,000 after purchasing an additional 2,329 shares during the last quarter. Institutional investors and hedge funds own 74.59% of the company’s stock.
Nucor Corporation Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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