Nucor (NYSE:NUE) Price Target Raised to $195.00 at JPMorgan Chase & Co.

Nucor (NYSE:NUE) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $180.00 to $195.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 1.15% from the company’s previous close.

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

Nucor Price Performance

NUE opened at $192.78 on Tuesday. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30. Nucor has a 52-week low of $129.79 and a 52-week high of $203.00. The company has a 50 day moving average of $191.00 and a two-hundred day moving average of $173.20. The company has a market cap of $46.26 billion, a P/E ratio of 10.72 and a beta of 1.61.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.33. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The company had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.64 billion. During the same period in the previous year, the firm earned $4.89 earnings per share. Nucor’s revenue for the quarter was down 11.7% on a year-over-year basis. On average, analysts expect that Nucor will post 13 earnings per share for the current year.

Insider Activity at Nucor

In related news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Nucor news, insider Michael D. Keller sold 3,145 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 5,500 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 85,326 shares in the company, valued at $15,902,206.62. The disclosure for this sale can be found here. Insiders have sold 38,151 shares of company stock valued at $7,308,683 over the last ninety days. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Nucor

A number of institutional investors and hedge funds have recently modified their holdings of NUE. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Nucor during the third quarter worth $25,000. Criterion Capital Advisors LLC bought a new position in shares of Nucor during the fourth quarter worth about $25,000. Rise Advisors LLC bought a new position in shares of Nucor during the first quarter worth about $27,000. Providence Capital Advisors LLC grew its position in shares of Nucor by 15,470.4% during the first quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 4,177 shares during the last quarter. Finally, Tompkins Financial Corp grew its position in shares of Nucor by 208.0% during the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 104 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

About Nucor

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.