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

Nucor (NYSE:NUE) had its target price trimmed by BMO Capital Markets from $210.00 to $200.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a market perform rating on the basic materials company’s stock.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on Nucor from $195.00 to $190.00 and set a neutral rating for the company in a report on Wednesday. StockNews.com cut Nucor from a buy rating to a hold rating in a report on Tuesday. Citigroup raised Nucor from a neutral rating to a buy rating and raised their price target for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, UBS Group started coverage on Nucor in a report on Tuesday, January 16th. They set a buy rating and a $210.00 price target for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Nucor has a consensus rating of Hold and a consensus price target of $193.14.

Nucor Trading Down 1.1 %

Nucor stock opened at $172.76 on Wednesday. The business has a 50 day moving average price of $191.04 and a two-hundred day moving average price of $174.17. The company has a quick ratio of 2.35, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. The stock has a market cap of $41.46 billion, a price-to-earnings ratio of 10.16 and a beta of 1.61. Nucor has a 12 month low of $129.79 and a 12 month high of $203.00.

Nucor (NYSE:NUE) last issued its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The company had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same period in the previous year, the company posted $4.45 earnings per share. The company’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, equities analysts forecast that Nucor will post 12.93 EPS for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.25%. Nucor’s dividend payout ratio is presently 12.71%.

Insider Buying and Selling at Nucor

In other Nucor news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Nucor news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the sale, the executive vice president now directly owns 80,902 shares in the company, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. Insiders have sold 38,151 shares of company stock valued at $7,308,683 in the last 90 days. 0.46% of the stock is currently owned by company insiders.

Institutional Trading of Nucor

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SVB Wealth LLC increased its position in shares of Nucor by 1.5% in the fourth quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock valued at $636,000 after acquiring an additional 54 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Nucor by 6.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock worth $151,000 after purchasing an additional 54 shares during the period. Kestra Private Wealth Services LLC grew its holdings in Nucor by 0.8% during the fourth quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock worth $1,252,000 after purchasing an additional 55 shares during the period. Householder Group Estate & Retirement Specialist LLC grew its holdings in Nucor by 36.6% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 59 shares during the period. Finally, Fortitude Family Office LLC grew its holdings in Nucor by 54.1% during the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds 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.