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Nucor (NYSE:NUE - Get Rating) had its target price decreased by BMO Capital Markets from $168.00 to $128.00 in a research report issued on Tuesday, The Fly reports. BMO Capital Markets' price target would indicate a potential upside of 3.18% from the stock's current price.
Several other research analysts have also commented on the company. Zacks Investment Research lowered Nucor from a "buy" rating to a "hold" rating and set a $180.00 price objective for the company. in a report on Wednesday, April 20th. JPMorgan Chase & Co. raised their target price on shares of Nucor from $113.00 to $129.00 and gave the stock a "neutral" rating in a report on Thursday, March 24th. StockNews.com initiated coverage on Nucor in a report on Thursday, March 31st. They set a "buy" rating on the stock. Argus boosted their price objective on Nucor from $140.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, April 25th. Finally, Morgan Stanley upped their target price on shares of Nucor from $107.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Monday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $140.00.
Shares of NYSE NUE traded up $4.31 during midday trading on Tuesday, reaching $124.06. 46,563 shares of the company were exchanged, compared to its average volume of 3,754,377. The company has a quick ratio of 1.66, a current ratio of 2.88 and a debt-to-equity ratio of 0.38. The stock has a market cap of $33.01 billion, a P/E ratio of 4.41 and a beta of 1.21. Nucor has a one year low of $87.71 and a one year high of $187.90. The stock's 50-day moving average price is $147.63 and its 200-day moving average price is $125.90.
Nucor (NYSE:NUE - Get Rating) last issued its earnings results on Thursday, April 21st. The basic materials company reported $7.67 earnings per share for the quarter, topping analysts' consensus estimates of $7.39 by $0.28. Nucor had a return on equity of 55.61% and a net margin of 19.97%. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.72 billion. During the same period in the previous year, the company posted $3.10 earnings per share. The firm's revenue for the quarter was up 49.5% on a year-over-year basis. On average, equities research analysts anticipate that Nucor will post 27.04 EPS for the current year.
In other Nucor news, EVP Daniel R. Needham sold 4,000 shares of the company's stock in a transaction dated Tuesday, April 26th. The shares were sold at an average price of $160.00, for a total transaction of $640,000.00. Following the transaction, the executive vice president now directly owns 46,994 shares in the company, valued at $7,519,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Allen C. Behr sold 3,014 shares of the company's stock in a transaction that occurred on Monday, March 21st. The stock was sold at an average price of $143.40, for a total value of $432,207.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,639 shares of company stock valued at $4,736,302. Company insiders own 0.46% of the company's stock.
A number of institutional investors have recently added to or reduced their stakes in NUE. Marshall Wace North America L.P. acquired a new stake in shares of Nucor in the first quarter worth approximately $54,000. FMR LLC lifted its position in Nucor by 123.0% during the first quarter. FMR LLC now owns 674,154 shares of the basic materials company's stock valued at $39,337,000 after buying an additional 371,876 shares in the last quarter. Center for Financial Planning Inc. purchased a new position in shares of Nucor in the 3rd quarter valued at $79,000. Alliancebernstein L.P. grew its stake in shares of Nucor by 3.0% in the third quarter. Alliancebernstein L.P. now owns 468,358 shares of the basic materials company's stock valued at $46,129,000 after buying an additional 13,841 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Nucor by 9.5% during the 3rd quarter. Creative Planning now owns 26,425 shares of the basic materials company's stock valued at $2,603,000 after buying an additional 2,290 shares during the period. 77.70% of the stock is owned by 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.
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