Nucor (NYSE:NUE) Price Target Cut to $190.00

Nucor (NYSE:NUE) had its price objective lowered by analysts at JPMorgan Chase & Co. from $195.00 to $190.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 8.03% from the company’s current price.

A number of other brokerages have also weighed in on NUE. UBS Group assumed coverage on Nucor in a report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price objective on the stock. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $193.14.

Nucor Trading Up 1.8 %

Shares of NYSE:NUE opened at $175.88 on Wednesday. Nucor has a 1 year low of $129.79 and a 1 year high of $203.00. The firm has a market capitalization of $42.21 billion, a price-to-earnings ratio of 10.35 and a beta of 1.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.35. The business’s 50 day moving average price is $190.83 and its 200-day moving average price is $174.19.

Nucor (NYSE:NUE) last announced its quarterly earnings data 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). The firm had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.45 EPS. On average, equities research analysts forecast that Nucor will post 12.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Kenneth Rex Query sold 5,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 85,326 shares in the company, valued at approximately $15,902,206.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value 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 valued at $7,308,683. 0.46% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nucor

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SVB Wealth LLC boosted its holdings in Nucor by 1.5% during the 4th quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock valued at $636,000 after acquiring an additional 54 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Nucor by 6.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock valued at $151,000 after acquiring an additional 54 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in Nucor by 0.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock valued at $1,252,000 after acquiring an additional 55 shares during the period. Householder Group Estate & Retirement Specialist LLC boosted its stake in shares of Nucor by 36.6% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock valued at $38,000 after buying an additional 59 shares during the period. Finally, Fortitude Family Office LLC boosted its stake in shares of Nucor by 54.1% in the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after buying an additional 59 shares during the period. 76.48% of the stock is currently owned by hedge funds and other 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.