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

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

NUE has been the topic of several other research reports. The Goldman Sachs Group lowered their price target on Nucor from $148.00 to $130.00 and set a neutral rating on the stock in a report on Tuesday, May 31st. BMO Capital Markets decreased their price objective on Nucor from $168.00 to $128.00 in a report on Tuesday, May 17th. StockNews.com began coverage on Nucor in a report on Thursday, March 31st. They set a buy rating on the stock. Argus raised their price objective on Nucor from $140.00 to $190.00 and gave the company a buy rating in a report on Monday, April 25th. Finally, JPMorgan Chase & Co. decreased their price objective on Nucor from $146.00 to $125.00 and set a neutral rating on the stock in a report on Tuesday, June 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $132.55.

NYSE:NUE opened at $106.04 on Monday. The business’s 50-day moving average price is $134.67 and its two-hundred day moving average price is $127.86. Nucor has a twelve month low of $87.71 and a twelve month high of $187.90. The stock has a market cap of $28.21 billion, a P/E ratio of 3.79 and a beta of 1.23. The company has a quick ratio of 1.66, a current ratio of 2.88 and a debt-to-equity ratio of 0.38.

Nucor (NYSE:NUEGet Rating) last released its quarterly earnings results on Thursday, April 21st. The basic materials company reported $7.67 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $10.72 billion. During the same quarter last year, the firm posted $3.10 EPS. The company’s revenue was up 49.5% compared to the same quarter last year. On average, equities research analysts expect that Nucor will post 29.75 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Thursday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $2.00 annualized dividend and a yield of 1.89%. Nucor’s payout ratio is 7.15%.

In other news, EVP Daniel R. Needham sold 4,000 shares of Nucor stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $160.00, for a total value of $640,000.00. Following the sale, the executive vice president now directly owns 46,994 shares in the company, valued at approximately $7,519,040. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Leon J. Topalian sold 48,768 shares of Nucor stock in a transaction that occurred on 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 sale, the chief executive officer now owns 135,809 shares in the company, valued at $15,293,451.49. The disclosure for this sale can be found here. 0.46% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Peachtree Investment Partners LLC bought a new stake in shares of Nucor in the 1st quarter worth approximately $478,000. Vise Technologies Inc. purchased a new position in shares of Nucor in the 1st quarter valued at approximately $220,000. Rehmann Capital Advisory Group lifted its stake in shares of Nucor by 6.5% in the 1st quarter. Rehmann Capital Advisory Group now owns 4,956 shares of the basic materials company’s stock valued at $737,000 after purchasing an additional 301 shares during the period. CFS Investment Advisory Services LLC lifted its stake in shares of Nucor by 14,509.4% in the 1st quarter. CFS Investment Advisory Services LLC now owns 4,061,713 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 4,033,911 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its stake in shares of Nucor by 3.8% in the 1st quarter. Kestra Private Wealth Services LLC now owns 7,203 shares of the basic materials company’s stock valued at $1,071,000 after purchasing an additional 264 shares during the period. Hedge funds and other 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.

Further Reading

Analyst Recommendations for Nucor (NYSE:NUE)

Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.