Nucor Co. (NYSE:NUE - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $109.36, but opened at $122.91. Nucor shares last traded at $121.53, with a volume of 2,503,221 shares changing hands.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on NUE. JPMorgan Chase & Co. cut their price objective on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. UBS Group lowered their price target on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and upped their price target for the company from $140.00 to $145.00 in a report on Monday. Wall Street Zen lowered shares of Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Finally, Morgan Stanley set a $164.00 price target on shares of Nucor in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Nucor currently has an average rating of "Moderate Buy" and an average target price of $157.22.
Get Our Latest Stock Report on Nucor
Nucor Stock Down 0.3%
The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $28.15 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73. The company's fifty day simple moving average is $113.78 and its 200 day simple moving average is $125.23.
Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. The firm's revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.46 earnings per share. Research analysts expect that Nucor Co. will post 7.64 EPS for the current year.
Insider Buying and Selling
In related news, CEO Leon J. Topalian sold 34,238 shares of the 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 completion of the transaction, the chief executive officer now directly owns 162,993 shares in the company, valued at $19,590,128.67. This trade represents a 17.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.
Institutional Trading of Nucor
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Nucor by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company's stock valued at $3,484,965,000 after purchasing an additional 745,671 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Nucor by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company's stock valued at $701,255,000 after acquiring an additional 105,309 shares during the last quarter. Norges Bank purchased a new stake in shares of Nucor during the 4th quarter valued at about $398,077,000. Invesco Ltd. boosted its holdings in shares of Nucor by 18.7% during the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock valued at $284,220,000 after acquiring an additional 384,205 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Nucor by 24.6% during the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock valued at $280,627,000 after acquiring an additional 474,274 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.
Nucor Company Profile
(
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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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