Nucor (NYSE:NUE) PT Lowered to $200.00

Nucor (NYSE:NUE) had its price target trimmed by Bank of America from $210.00 to $200.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

Other equities research analysts have also issued reports about the stock. StockNews.com lowered shares of Nucor from a buy rating to a hold rating in a research note on Tuesday, April 23rd. Citigroup upgraded shares of Nucor from a neutral rating to a buy rating and upped their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. BMO Capital Markets reduced their price target on shares of Nucor from $185.00 to $175.00 and set a market perform rating for the company in a research report on Monday, June 17th. Jefferies Financial Group began coverage on shares of Nucor in a research report on Monday, May 20th. They set a hold rating and a $190.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Nucor from $190.00 to $180.00 and set a neutral rating for the company in a research report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $189.67.

Nucor Price Performance

NYSE:NUE opened at $158.08 on Wednesday. Nucor has a one year low of $140.07 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. The firm has a market cap of $37.90 billion, a price-to-earnings ratio of 9.30 and a beta of 1.60. The firm’s fifty day moving average is $166.46 and its two-hundred day moving average is $177.69.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a net margin of 12.40% and a return on equity of 19.62%. The business had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. During the same period in the previous year, the company posted $4.45 earnings per share. Nucor’s revenue for the quarter was down 6.6% compared to the same quarter last year. Research analysts expect that Nucor will post 10.78 EPS for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.37%. Nucor’s dividend payout ratio is currently 12.71%.

Institutional Trading of Nucor

A number of hedge funds and other institutional investors have recently made changes to their positions in NUE. Criterion Capital Advisors LLC acquired a new stake in shares of Nucor during the 4th quarter worth approximately $25,000. Rise Advisors LLC purchased a new position in Nucor in the 1st quarter valued at approximately $27,000. Chilton Capital Management LLC boosted its position in Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after buying an additional 65 shares during the period. Central Pacific Bank Trust Division purchased a new position in Nucor in the 1st quarter valued at approximately $28,000. Finally, Tompkins Financial Corp boosted its position in 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 buying an additional 104 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

About Nucor

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.