Nucor (NYSE:NUE) PT Lowered to $200.00 at BMO Capital Markets

Nucor (NYSE:NUE) had its price target trimmed by BMO Capital Markets from $210.00 to $200.00 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.

NUE has been the subject of several other research reports. JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $195.00 to $190.00 and set a neutral rating for the company in a research note on Wednesday. Citigroup upgraded shares of Nucor from a neutral rating to a buy rating and increased their price objective for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. StockNews.com lowered shares of Nucor from a buy rating to a hold rating in a research note on Tuesday. Finally, UBS Group initiated coverage on shares of Nucor in a research note on Tuesday, January 16th. They set a buy rating and a $210.00 price target for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $193.14.

Nucor Trading Down 1.1 %

NUE opened at $172.76 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.35. Nucor has a fifty-two week low of $129.79 and a fifty-two week high of $203.00. The firm has a market capitalization of $41.46 billion, a PE ratio of 10.16 and a beta of 1.61. The company’s 50-day moving average is $191.04 and its 200 day moving average is $174.17.

Nucor (NYSE:NUE) last posted its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same quarter in the prior year, the company earned $4.45 EPS. The company’s revenue was down 6.6% on a year-over-year basis. As a group, research analysts predict that Nucor will post 12.93 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.25%. Nucor’s payout ratio is currently 12.71%.

Insider Activity at Nucor

In related news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 80,902 shares in the company, valued at approximately $15,386,751.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the business’s 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 transaction, the insider now owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,151 shares of company stock worth $7,308,683. Corporate insiders own 0.46% of the company’s stock.

Institutional Trading of Nucor

Hedge funds have recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new stake in Nucor in the first quarter worth $27,000. Criterion Capital Advisors LLC bought a new stake in Nucor in the fourth quarter worth $25,000. Tompkins Financial Corp lifted its stake in Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 104 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Nucor by 54.1% in the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 59 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its stake in Nucor by 716.7% in the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 172 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

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.