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Nucor (NYSE:NUE - Get Rating) had its target price dropped by investment analysts at Credit Suisse Group from $165.00 to $140.00 in a research note issued on Friday, The Fly reports. Credit Suisse Group's price objective indicates a potential upside of 19.38% from the company's current price.
NUE has been the topic of a number of other research reports. The Goldman Sachs Group reduced their price objective on Nucor from $148.00 to $130.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 31st. UBS Group set a $120.00 target price on Nucor in a research note on Monday, June 20th. Citigroup raised their target price on Nucor to $145.00 in a research note on Tuesday. StockNews.com cut Nucor from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut their target price on Nucor from $146.00 to $125.00 and set a "neutral" rating for the company in a research note on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Nucor presently has a consensus rating of "Hold" and an average price target of $132.78.Nucor Stock Performance
NYSE NUE opened at $117.27 on Friday. Nucor has a 1-year low of $88.50 and a 1-year high of $187.90. The company has a market cap of $30.70 billion, a PE ratio of 3.60 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.62 and a quick ratio of 1.39. The stock's 50 day simple moving average is $130.50 and its 200-day simple moving average is $133.65.
Nucor (NYSE:NUE - Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The basic materials company reported $9.67 EPS for the quarter, topping analysts' consensus estimates of $8.91 by $0.76. Nucor had a return on equity of 57.78% and a net margin of 21.03%. The firm had revenue of $11.79 billion for the quarter, compared to the consensus estimate of $11.59 billion. During the same quarter last year, the business posted $5.04 earnings per share. The firm's revenue was up 34.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Nucor will post 31.01 EPS for the current fiscal year. Insiders Place Their Bets
In other Nucor news, EVP Allen C. Behr sold 3,407 shares of the business's stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $122.17, for a total transaction of $416,233.19. Following the sale, the executive vice president now directly owns 64,087 shares in the company, valued at $7,829,508.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Kenneth Rex Query sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total transaction of $708,200.00. Following the sale, the executive vice president now directly owns 76,100 shares in the company, valued at $10,778,804. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allen C. Behr sold 3,407 shares of the company's stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $122.17, for a total transaction of $416,233.19. Following the sale, the executive vice president now owns 64,087 shares in the company, valued at $7,829,508.79. The disclosure for this sale can be found here. Insiders own 0.46% of the company's stock. Institutional Trading of Nucor
Large investors have recently made changes to their positions in the company. Bailard Inc. increased its stake in shares of Nucor by 2.0% during the first quarter. Bailard Inc. now owns 26,694 shares of the basic materials company's stock worth $3,968,000 after buying an additional 534 shares during the period. IFM Investors Pty Ltd increased its stake in shares of Nucor by 15.3% during the first quarter. IFM Investors Pty Ltd now owns 43,770 shares of the basic materials company's stock worth $6,506,000 after buying an additional 5,820 shares during the period. Howland Capital Management LLC purchased a new stake in shares of Nucor during the first quarter worth approximately $204,000. Zacks Investment Management boosted its holdings in Nucor by 5.3% in the fourth quarter. Zacks Investment Management now owns 26,310 shares of the basic materials company's stock valued at $3,004,000 after purchasing an additional 1,327 shares in the last quarter. Finally, Chicago Capital LLC acquired a new position in Nucor in the first quarter valued at approximately $235,000. 79.07% of the stock is currently owned by hedge funds and other institutional investors. Nucor Company Profile (Get Rating)
Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.See AlsoGet a free copy of the StockNews.com research report on Nucor (NUE)Is There a Cure for What is Ailing Teladoc Stock?No One Told These 3 Stocks It’s a Down WeekWhy Medical Products Maker Repligen May Be A Potential Buy At 10%, Is Arbor Realty Trust Dividend Worth It? Investors Should Tune Into RF Industries
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