BMO Capital Markets Trims Nucor (NYSE:NUE) Target Price to $200.00

Nucor (NYSE:NUE) had its price objective dropped by analysts at BMO Capital Markets from $210.00 to $200.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 13.71% from the stock’s previous close.

NUE has been the topic of a number of other reports. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group assumed coverage on shares of Nucor in a research note on Tuesday, January 16th. They issued a “buy” rating and a $210.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Five investment 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 price target of $193.14.

Nucor Stock Performance

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’s fifty day simple moving average is $190.83 and its 200 day simple moving average is $174.19. The company has a current ratio of 4.02, a quick ratio of 2.35 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $42.21 billion, a PE ratio of 10.35 and a beta of 1.61.

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

Insider Transactions at Nucor

In other news, 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 transaction of $609,092.15. Following the completion of the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, 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 transaction of $609,092.15. Following the completion of the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the transaction, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The disclosure for this sale can be found here. In the last three months, insiders sold 38,151 shares of company stock valued at $7,308,683. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Nucor

Several institutional investors have recently added to or reduced their stakes in the company. SVB Wealth LLC lifted 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 purchasing an additional 54 shares during the last quarter. EverSource Wealth Advisors LLC lifted 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 purchasing an additional 54 shares during the last quarter. Kestra Private Wealth Services LLC lifted 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 purchasing an additional 55 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its holdings in Nucor by 36.6% during 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 purchasing an additional 59 shares during the last quarter. Finally, Fortitude Family Office LLC raised its stake in shares of 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 acquiring an additional 59 shares during the last quarter. 76.48% of the stock is owned by 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.