Nucor (NYSE:NUE) had its target price dropped by KeyCorp from $66.00 to $61.00 in a report issued on Monday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price objective would indicate a potential upside of 19.47% from the stock’s current price.
A number of other research firms have also weighed in on NUE. Standpoint Research raised Nucor from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Longbow Research lowered Nucor from a “buy” rating to a “neutral” rating in a research note on Monday, March 11th. UBS Group set a $59.00 price target on Nucor and gave the company a “hold” rating in a research note on Wednesday, May 8th. Citigroup set a $60.00 price target on Nucor and gave the company a “buy” rating in a research note on Tuesday, June 11th. Finally, Deutsche Bank lowered Nucor from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Nucor presently has a consensus rating of “Hold” and a consensus price target of $64.80.
NYSE NUE traded down $0.64 on Monday, reaching $51.06. 85,598 shares of the company were exchanged, compared to its average volume of 2,533,910. The firm has a fifty day simple moving average of $53.26. The company has a market cap of $15.40 billion, a PE ratio of 6.70, a P/E/G ratio of 0.80 and a beta of 1.53. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.37 and a quick ratio of 1.64. Nucor has a fifty-two week low of $47.13 and a fifty-two week high of $68.84.
Nucor (NYSE:NUE) last released its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.05. The company had revenue of $6.10 billion for the quarter, compared to analyst estimates of $6.05 billion. Nucor had a return on equity of 24.86% and a net margin of 9.80%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 earnings per share. Research analysts anticipate that Nucor will post 5.37 earnings per share for the current year.
In other news, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $58.28, for a total value of $582,800.00. Following the transaction, the insider now owns 96,778 shares of the company’s stock, valued at approximately $5,640,221.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman John J. Ferriola sold 65,061 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $56.20, for a total value of $3,656,428.20. Following the completion of the sale, the chairman now owns 403,735 shares in the company, valued at approximately $22,689,907. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,314 shares of company stock worth $4,310,637. Corporate insiders own 0.96% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc raised its holdings in shares of Nucor by 4.4% in the 3rd quarter. Vanguard Group Inc now owns 28,321,567 shares of the basic materials company’s stock valued at $1,797,003,000 after buying an additional 1,186,099 shares during the period. BlackRock Inc. increased its holdings in Nucor by 3.4% during the 4th quarter. BlackRock Inc. now owns 23,134,435 shares of the basic materials company’s stock worth $1,198,595,000 after purchasing an additional 764,927 shares during the period. Northern Trust Corp increased its holdings in Nucor by 1.3% during the 1st quarter. Northern Trust Corp now owns 5,538,288 shares of the basic materials company’s stock worth $323,158,000 after purchasing an additional 72,896 shares during the period. Bank of New York Mellon Corp increased its holdings in Nucor by 10.1% during the 4th quarter. Bank of New York Mellon Corp now owns 5,454,562 shares of the basic materials company’s stock worth $282,600,000 after purchasing an additional 500,036 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Nucor by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock worth $258,607,000 after purchasing an additional 506,988 shares during the period. Hedge funds and other institutional investors own 76.42% of the company’s stock.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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