Nucor (NYSE:NUE) Price Target Cut to $200.00 by Analysts at BMO Capital Markets

Nucor (NYSE:NUE - Free Report) had its price target lowered by BMO Capital Markets from $210.00 to $200.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a market perform rating on the basic materials company's stock.

Several other research firms have also recently weighed in on NUE. StockNews.com cut Nucor from a buy rating to a hold rating in a report on Tuesday. UBS Group initiated coverage on Nucor in a report on Tuesday, January 16th. They issued a buy rating and a $210.00 price objective for the company. Citigroup raised Nucor from a neutral rating to a buy rating and increased their target price for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. decreased their target price on Nucor from $195.00 to $190.00 and set a neutral rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $193.14.

Nucor Trading Down 1.1 %

NUE stock traded down $1.88 during trading on Wednesday, hitting $172.76. 2,586,233 shares of the company traded hands, compared to its average volume of 1,441,052. Nucor has a 1 year low of $129.79 and a 1 year high of $203.00. 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 company has a 50-day moving average of $191.20 and a 200-day moving average of $174.18. The firm has a market capitalization of $41.46 billion, a PE ratio of 10.15 and a beta of 1.61.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a return on equity of 19.67% and a net margin of 12.40%. The business had revenue of $8.14 billion during the quarter, compared to analysts' expectations of $8.26 billion. During the same quarter last year, the business posted $4.45 EPS. The company's quarterly revenue was down 6.6% compared to the same quarter last year. Analysts predict that Nucor will post 12.93 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor's dividend payout ratio (DPR) is presently 12.71%.

Insider Activity at Nucor

In related news, insider Michael D. Keller sold 3,145 shares of the firm's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Michael D. Keller sold 3,145 shares of the firm's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Allen C. Behr sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the transaction, the executive vice president now directly owns 80,902 shares of the company's stock, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. Insiders sold a total of 38,151 shares of company stock valued at $7,308,683 in the last 90 days. Corporate insiders own 0.64% of the company's stock.

Institutional Trading of Nucor

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