Nucor Corporation (NYSE:NUE) has been given a $70.00 target price by BMO Capital Markets in a report issued on Saturday. The firm presently has a “hold” rating on the basic materials company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 27.95% from the company’s previous close.

Several other research firms have also issued reports on NUE. Cowen and Company reaffirmed a “market perform” rating and set a $63.00 price target (up from $62.00) on shares of Nucor Corporation in a research report on Tuesday, July 25th. BidaskClub raised shares of Nucor Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Barclays PLC reaffirmed a “buy” rating and set a $73.00 price target on shares of Nucor Corporation in a research report on Friday, May 5th. Morgan Stanley reaffirmed a “buy” rating on shares of Nucor Corporation in a research report on Tuesday, July 18th. Finally, Longbow Research began coverage on shares of Nucor Corporation in a research report on Tuesday, May 9th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $68.88.

Shares of Nucor Corporation (NUE) opened at 54.71 on Friday. The stock’s 50 day moving average is $57.51 and its 200 day moving average is $59.22. The stock has a market capitalization of $17.48 billion, a PE ratio of 15.36 and a beta of 1.51. Nucor Corporation has a 52 week low of $44.81 and a 52 week high of $68.00.

Nucor Corporation (NYSE:NUE) last posted its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.06. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The firm had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period last year, the company posted $0.73 earnings per share. The business’s revenue was up 21.9% compared to the same quarter last year. Analysts anticipate that Nucor Corporation will post $4.17 EPS for the current fiscal year.

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In related news, insider Leon J. Topalian sold 2,626 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $60.23, for a total value of $158,163.98. Following the transaction, the insider now directly owns 19,610 shares in the company, valued at $1,181,110.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Sumoski sold 2,537 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total transaction of $156,431.42. Following the completion of the transaction, the insider now owns 62,434 shares in the company, valued at $3,849,680.44. The disclosure for this sale can be found here. Insiders sold 20,104 shares of company stock worth $1,213,595 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in NUE. Massmutual Trust Co. FSB ADV increased its position in Nucor Corporation by 0.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,147 shares of the basic materials company’s stock valued at $128,000 after buying an additional 15 shares during the period. Accredited Investors Inc. increased its position in Nucor Corporation by 0.6% in the first quarter. Accredited Investors Inc. now owns 3,892 shares of the basic materials company’s stock valued at $232,000 after buying an additional 24 shares during the period. FineMark National Bank & Trust increased its position in Nucor Corporation by 0.3% in the second quarter. FineMark National Bank & Trust now owns 9,699 shares of the basic materials company’s stock valued at $561,000 after buying an additional 26 shares during the period. Cleararc Capital Inc. increased its position in Nucor Corporation by 0.5% in the first quarter. Cleararc Capital Inc. now owns 7,795 shares of the basic materials company’s stock valued at $466,000 after buying an additional 35 shares during the period. Finally, ING Groep NV increased its position in Nucor Corporation by 0.3% in the second quarter. ING Groep NV now owns 16,591 shares of the basic materials company’s stock valued at $960,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 75.99% of the company’s stock.

Nucor Corporation Company Profile

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

Analyst Recommendations for Nucor Corporation (NYSE:NUE)

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