Nucor (NYSE:NUE) PT Raised to $195.00 at JPMorgan Chase & Co.

Nucor (NYSE:NUE) had its price target raised by research analysts at JPMorgan Chase & Co. from $180.00 to $195.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 1.15% from the stock’s current price.

A number of other research firms have also weighed in on NUE. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. StockNews.com upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Finally, UBS Group started coverage on shares of Nucor in a report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 target price on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $192.83.

Nucor Stock Up 0.3 %

Shares of NYSE NUE opened at $192.78 on Tuesday. The firm has a market cap of $46.26 billion, a price-to-earnings ratio of 10.72 and a beta of 1.61. Nucor has a 52-week low of $129.79 and a 52-week high of $203.00. The company’s 50-day simple moving average is $191.00 and its 200-day simple moving average is $173.20. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.33. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. Nucor’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $4.89 earnings per share. Equities analysts predict that Nucor will post 13 EPS for the current fiscal year.

Insider Activity

In other news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, 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 business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, 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 Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the sale, the executive vice president now directly owns 85,326 shares in the company, valued at $15,902,206.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,151 shares of company stock valued at $7,308,683. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Nucor

Several large investors have recently added to or reduced their stakes in NUE. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Nucor during the 3rd quarter worth approximately $25,000. Criterion Capital Advisors LLC purchased a new stake in shares of Nucor in the 4th quarter valued at approximately $25,000. Rise Advisors LLC purchased a new stake in shares of Nucor in the 1st quarter valued at approximately $27,000. Providence Capital Advisors LLC increased its position in shares of Nucor by 15,470.4% in the 1st quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 4,177 shares during the last quarter. Finally, Tompkins Financial Corp increased its position in shares of Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other 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.