Nucor Co. (NYSE:NUE) Receives $190.57 Average Price Target from Brokerages

Shares of Nucor Co. (NYSE:NUE) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $190.57.

NUE has been the subject of a number of analyst reports. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley dropped their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets cut their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. dropped their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd.

Insider Activity at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.64% of the stock is currently owned by insiders.

Institutional Trading of Nucor

Several institutional investors and hedge funds have recently modified their holdings of the stock. CX Institutional raised its position in Nucor by 52.8% in the 2nd quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock valued at $2,726,000 after buying an additional 5,960 shares during the last quarter. Norden Group LLC bought a new position in shares of Nucor during the first quarter valued at about $1,847,000. Banco Santander S.A. boosted its holdings in Nucor by 86.2% during the first quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock worth $2,552,000 after purchasing an additional 5,971 shares during the last quarter. Ascension Asset Management LLC bought a new stake in Nucor in the 2nd quarter worth about $885,000. Finally, Kimelman & Baird LLC purchased a new stake in Nucor in the 2nd quarter valued at about $6,655,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Trading Up 1.4 %

NYSE NUE opened at $144.61 on Wednesday. Nucor has a 12 month low of $133.42 and a 12 month high of $203.00. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $34.32 billion, a PE ratio of 13.97 and a beta of 1.55. The business’s 50-day moving average price is $147.29 and its two-hundred day moving average price is $155.87.

Nucor (NYSE:NUE) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.57 EPS. On average, analysts expect that Nucor will post 8.65 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio is currently 20.87%.

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.