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

Nucor (NYSE:NUE) had its price objective dropped by research 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 currently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 15.22% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. UBS Group initiated coverage on Nucor in a research note on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target for the company. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $193.14.

Nucor Stock Down 0.6 %

NYSE:NUE traded down $1.06 on Wednesday, hitting $173.58. 1,118,757 shares of the company’s stock traded hands, compared to its average volume of 1,421,255. The company has a market cap of $41.66 billion, a PE ratio of 10.23 and a beta of 1.61. The firm has a 50-day moving average price of $191.20 and a 200-day moving average price of $174.18. Nucor has a 1 year low of $129.79 and a 1 year high of $203.00. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). The firm had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.67%. Nucor’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.45 EPS. Equities analysts anticipate that Nucor will post 12.93 EPS for the current fiscal year.

Insider Activity at Nucor

In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the sale, the executive vice president now owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Douglas J. Jellison sold 19,506 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the sale, 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. Insiders sold 38,151 shares of company stock valued at $7,308,683 over the last ninety days. 0.64% of the stock is owned by insiders.

Institutional Trading of Nucor

Hedge funds have recently made changes to their positions in the company. Keybank National Association OH grew its position in Nucor by 3.4% during the 3rd quarter. Keybank National Association OH now owns 19,246 shares of the basic materials company’s stock worth $3,009,000 after purchasing an additional 639 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in Nucor in the fourth quarter valued at $3,481,000. AIA Group Ltd raised its holdings in shares of Nucor by 53.2% during the fourth quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock worth $2,302,000 after purchasing an additional 4,592 shares during the period. Sapient Capital LLC bought a new position in Nucor in the 4th quarter valued at about $1,230,000. Finally, Blue Trust Inc. boosted its position in shares of Nucor by 47.4% during the 4th quarter. Blue Trust Inc. now owns 871 shares of the basic materials company’s stock valued at $152,000 after purchasing an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

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.