Nucor (NYSE:NUE) Price Target Lowered to $150.00 at JPMorgan Chase & Co.

Nucor (NYSE:NUE) had its price objective lowered by JPMorgan Chase & Co. from $152.00 to $150.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the company. Citigroup reduced their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group started coverage on shares of Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. Morgan Stanley decreased their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Jefferies Financial Group raised their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, UBS Group reaffirmed a “neutral” rating and set a $156.00 price target (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

Nucor Stock Up 0.3 %

Shares of NYSE NUE opened at $126.88 on Wednesday. The business has a fifty day moving average of $129.79 and a two-hundred day moving average of $142.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. Nucor has a 52-week low of $112.25 and a 52-week high of $203.00. The stock has a market cap of $29.79 billion, a PE ratio of 12.26 and a beta of 1.60.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 8.05% and a return on equity of 12.06%. During the same period last year, the firm earned $3.16 EPS. As a group, equities research analysts expect that Nucor will post 8.18 earnings per share for the current fiscal year.

Nucor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.55 per share. This is an increase from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. This represents a $2.20 annualized dividend and a yield of 1.73%. Nucor’s dividend payout ratio (DPR) is currently 21.26%.

Insider Activity

In related news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the sale, the chief financial officer now directly owns 82,132 shares in the company, valued at $13,923,837.96. The trade was a 5.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,680 shares of company stock valued at $3,452,524 over the last ninety days. 0.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nucor

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp increased its position in shares of Nucor by 2.9% in the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares during the period. Geode Capital Management LLC increased its holdings in Nucor by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after buying an additional 74,569 shares during the period. Pacer Advisors Inc. raised its position in shares of Nucor by 19.8% in the 3rd quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock valued at $519,648,000 after buying an additional 571,682 shares in the last quarter. Nordea Investment Management AB increased its stake in Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after acquiring an additional 358,721 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Nucor by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,612,216 shares of the basic materials company’s stock valued at $242,381,000 after purchasing an additional 45,467 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

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.