Nucor (NYSE:NUE) Given a $120.00 Price Target at UBS Group

UBS Group set a $120.00 target price on Nucor (NYSE:NUEGet Rating) in a report published on Monday morning, Stock Target Advisor reports.

Several other brokerages have also commented on NUE. Argus lifted their price objective on Nucor from $140.00 to $190.00 and gave the stock a buy rating in a report on Monday, April 25th. BMO Capital Markets cut their price objective on Nucor from $168.00 to $128.00 in a report on Tuesday, May 17th. JPMorgan Chase & Co. cut their price objective on Nucor from $146.00 to $125.00 and set a neutral rating for the company in a report on Tuesday, June 14th. StockNews.com started coverage on Nucor in a report on Thursday, March 31st. They issued a buy rating for the company. Finally, Credit Suisse Group lifted their price objective on Nucor from $142.00 to $175.00 and gave the stock an outperform rating in a report on Friday, April 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Nucor currently has a consensus rating of Hold and a consensus price target of $132.55.

NUE stock opened at $106.04 on Monday. Nucor has a 1-year low of $87.71 and a 1-year high of $187.90. The business has a fifty day moving average price of $134.67 and a 200-day moving average price of $127.86. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.88 and a quick ratio of 1.66. The stock has a market capitalization of $28.21 billion, a P/E ratio of 3.79 and a beta of 1.23.

Nucor (NYSE:NUEGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The basic materials company reported $7.67 earnings per share for the quarter, topping the consensus estimate of $7.35 by $0.32. Nucor had a return on equity of 55.61% and a net margin of 19.97%. The firm had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.72 billion. During the same quarter in the previous year, the business earned $3.10 earnings per share. The company’s revenue was up 49.5% on a year-over-year basis. As a group, analysts anticipate that Nucor will post 29.75 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Thursday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Wednesday, June 29th. Nucor’s dividend payout ratio (DPR) is 7.15%.

In other news, CEO Leon J. Topalian sold 48,768 shares of the company’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $112.61, for a total value of $5,491,764.48. Following the completion of the transaction, the chief executive officer now owns 135,809 shares of the company’s stock, valued at $15,293,451.49. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel R. Needham sold 4,000 shares of the business’s stock in a transaction dated Tuesday, April 26th. The stock was sold at an average price of $160.00, for a total value of $640,000.00. Following the completion of the sale, the executive vice president now owns 46,994 shares in the company, valued at $7,519,040. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Nucor by 4.0% in the first quarter. BlackRock Inc. now owns 23,345,048 shares of the basic materials company’s stock worth $3,470,242,000 after buying an additional 897,135 shares in the last quarter. State Street Corp lifted its position in shares of Nucor by 2.4% in the first quarter. State Street Corp now owns 15,803,098 shares of the basic materials company’s stock worth $2,356,620,000 after buying an additional 377,102 shares in the last quarter. Norges Bank purchased a new stake in shares of Nucor in the fourth quarter worth about $683,804,000. Dimensional Fund Advisors LP raised its position in Nucor by 9.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,782,243 shares of the basic materials company’s stock valued at $710,909,000 after purchasing an additional 406,834 shares during the period. Finally, Northern Trust Corp raised its position in Nucor by 2.6% during the fourth quarter. Northern Trust Corp now owns 4,637,239 shares of the basic materials company’s stock valued at $529,341,000 after purchasing an additional 117,517 shares during the period. Institutional investors own 77.70% of the company’s stock.

About Nucor (Get Rating)

Nucor Corporation manufactures and sells steel and steel products. The company's 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; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Analyst Recommendations for Nucor (NYSE:NUE)

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