JPMorgan Chase & Co. Trims Nucor (NYSE:NUE) Target Price to $180.00

Nucor (NYSE:NUEFree Report) had its target price cut by JPMorgan Chase & Co. from $190.00 to $180.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Several other equities research analysts also recently weighed in on the company. Citigroup upgraded Nucor from a neutral rating to a buy rating and upped their price target for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. StockNews.com downgraded Nucor from a buy rating to a hold rating in a report on Tuesday, April 23rd. Jefferies Financial Group assumed coverage on Nucor in a report on Monday, May 20th. They set a hold rating and a $190.00 price target on the stock. Finally, BMO Capital Markets cut their price target on Nucor from $210.00 to $200.00 and set a market perform rating on the stock in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Nucor presently has an average rating of Hold and an average target price of $191.50.

Get Our Latest Stock Analysis on NUE

Nucor Price Performance

NUE stock opened at $154.13 on Tuesday. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $36.95 billion, a PE ratio of 9.07 and a beta of 1.60. Nucor has a 12-month low of $140.07 and a 12-month high of $203.00. The business’s fifty day moving average price is $175.28 and its 200 day moving average price is $178.39.

Nucor (NYSE:NUEGet Free Report) last posted its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Nucor’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.45 EPS. On average, sell-side analysts anticipate that Nucor will post 12.54 EPS for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.40%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Insider Activity at Nucor

In related news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the sale, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the sale, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the company’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 completion of the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The disclosure for this sale can be found here. Insiders sold a total of 32,651 shares of company stock valued at $6,283,648 in the last three months. 0.64% of the stock is currently owned by company insiders.

Institutional Trading of Nucor

Hedge funds have recently added to or reduced their stakes in the stock. Criterion Capital Advisors LLC acquired a new stake in Nucor during the 4th quarter worth approximately $25,000. Rise Advisors LLC acquired a new stake in Nucor during the 1st quarter worth approximately $27,000. Chilton Capital Management LLC lifted its position in Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 65 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Nucor during the 1st quarter worth approximately $28,000. Finally, Tompkins Financial Corp raised its stake in shares of Nucor by 208.0% during the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after buying an additional 104 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

About Nucor

(Get Free Report)

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.

See Also

Analyst Recommendations for Nucor (NYSE:NUE)

Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.