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

Nucor (NYSE:NUE) had its price objective decreased by analysts at BMO Capital Markets from $210.00 to $200.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price target points to a potential upside of 15.22% from the company’s current price.

A number of other brokerages have also weighed in on NUE. JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday. UBS Group assumed coverage on shares of Nucor in a research note on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective on the stock. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Nucor presently has a consensus rating of “Hold” and a consensus price target of $193.14.

Nucor Stock Performance

NYSE:NUE traded down $1.06 during mid-day trading on Wednesday, hitting $173.58. 1,118,757 shares of the stock were exchanged, compared to its average volume of 1,421,255. The stock has a market capitalization of $41.66 billion, a price-to-earnings ratio of 10.23 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. The firm’s 50-day simple moving average is $191.20 and its 200 day simple moving average is $174.18. Nucor has a fifty-two week low of $129.79 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The company had revenue of $8.14 billion for the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a return on equity of 19.67% and a net margin of 12.40%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.45 earnings per share. As a group, equities analysts anticipate that Nucor will post 12.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael D. Keller sold 3,145 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the transaction, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Nucor news, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the transaction, the executive vice president now owns 85,326 shares in the company, valued at $15,902,206.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The disclosure for this sale can be found here. Insiders sold 38,151 shares of company stock valued at $7,308,683 over the last 90 days. Company insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Nucor

Large investors have recently bought and sold shares of the stock. Keybank National Association OH lifted its position in Nucor by 3.4% during the 3rd quarter. Keybank National Association OH now owns 19,246 shares of the basic materials company’s stock worth $3,009,000 after buying an additional 639 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of Nucor in the 4th quarter worth approximately $3,481,000. AIA Group Ltd increased its stake in Nucor by 53.2% during the 4th quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock valued at $2,302,000 after purchasing an additional 4,592 shares in the last quarter. Sapient Capital LLC bought a new stake in shares of Nucor in the 4th quarter worth $1,230,000. Finally, Blue Trust Inc. lifted its holdings in Nucor by 47.4% during the fourth quarter. Blue Trust Inc. now owns 871 shares of the basic materials company’s stock valued at $152,000 after purchasing an additional 280 shares during the last quarter. 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.