UBS Group Reiterates “$120.00” Price Target for Nucor (NYSE:NUE)

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

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

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

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

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

In other Nucor news, EVP Daniel R. Needham sold 4,000 shares of the business’s stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $160.00, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leon J. Topalian sold 48,768 shares of Nucor stock in a transaction 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 transaction, the chief executive officer now directly owns 135,809 shares of the company’s stock, valued at approximately $15,293,451.49. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in NUE. Dark Forest Capital Management LP acquired a new position in shares of Nucor during the 3rd quarter worth $43,000. MFA Wealth Advisors LLC acquired a new position in shares of Nucor during the 3rd quarter worth $25,000. LPL Financial LLC raised its stake in Nucor by 3.4% in the 3rd quarter. LPL Financial LLC now owns 280,482 shares of the basic materials company’s stock valued at $27,625,000 after purchasing an additional 9,126 shares during the last quarter. Wellington Management Group LLP raised its stake in Nucor by 31.7% in the 3rd quarter. Wellington Management Group LLP now owns 201,496 shares of the basic materials company’s stock valued at $19,845,000 after purchasing an additional 48,543 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in Nucor in the 3rd quarter valued at about $749,000. 77.70% of the stock is owned by institutional investors and hedge funds.

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.

See Also

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.