Nucor (NYSE:NUE) Price Target Raised to $149.00

Nucor (NYSE:NUE - Get Free Report) had its target price hoisted by equities researchers at Morgan Stanley from $134.00 to $149.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the basic materials company's stock. Morgan Stanley's price target indicates a potential upside of 20.20% from the company's current price.

Other analysts have also recently issued research reports about the stock. UBS Group lowered their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Argus set a $155.00 price target on Nucor in a research report on Wednesday, March 5th. Wall Street Zen lowered Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group reduced their price objective on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $140.00 to $145.00 in a report on Monday, June 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Nucor has an average rating of "Moderate Buy" and an average price target of $155.56.

Nucor Price Performance

NYSE NUE traded down $2.22 during trading on Friday, reaching $123.96. The company's stock had a trading volume of 1,217,250 shares, compared to its average volume of 2,217,632. The firm has a fifty day moving average of $116.05 and a 200 day moving average of $122.94. Nucor has a one year low of $97.59 and a one year high of $170.52. The stock has a market capitalization of $28.60 billion, a PE ratio of 22.09, a P/E/G ratio of 0.80 and a beta of 1.67. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.52 and a quick ratio of 1.48.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). The business had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.25 billion. Nucor had a return on equity of 6.82% and a net margin of 4.40%. The firm's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.46 EPS. Analysts expect that Nucor will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the transaction, the chief executive officer now owns 162,993 shares in the company, valued at approximately $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company's stock.

Institutional Trading of Nucor

Large investors have recently modified their holdings of the business. Inspire Investing LLC grew its position in shares of Nucor by 12.8% in the 1st quarter. Inspire Investing LLC now owns 26,216 shares of the basic materials company's stock worth $3,155,000 after buying an additional 2,973 shares during the last quarter. Modern Wealth Management LLC lifted its stake in Nucor by 45.6% in the first quarter. Modern Wealth Management LLC now owns 3,007 shares of the basic materials company's stock worth $362,000 after acquiring an additional 942 shares during the period. Strs Ohio purchased a new stake in Nucor in the first quarter worth $13,959,000. Ellsworth Advisors LLC increased its position in Nucor by 213.0% during the 1st quarter. Ellsworth Advisors LLC now owns 45,539 shares of the basic materials company's stock valued at $5,480,000 after purchasing an additional 30,988 shares during the period. Finally, Jacobi Capital Management LLC increased its position in Nucor by 9.1% during the 1st quarter. Jacobi Capital Management LLC now owns 3,715 shares of the basic materials company's stock valued at $447,000 after purchasing an additional 309 shares during the period. 76.48% of the stock is owned by institutional investors.

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.

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