UBS Group Cuts Nucor (NYSE:NUE) Price Target to $147.00

Nucor (NYSE:NUE - Get Free Report) had its price target cut by equities research analysts at UBS Group from $153.00 to $147.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the basic materials company's stock. UBS Group's price objective would suggest a potential upside of 34.49% from the company's previous close.

Several other research analysts have also commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Morgan Stanley set a $164.00 price objective on shares of Nucor in a research note on Monday, March 24th. Jefferies Financial Group boosted their price objective on shares of Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Wall Street Zen lowered Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered their price target on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $158.89.

Nucor Stock Up 0.3%

Shares of NYSE NUE traded up $0.36 during trading hours on Thursday, hitting $109.30. 3,371,202 shares of the stock were exchanged, compared to its average volume of 2,147,880. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The company has a market cap of $25.22 billion, a PE ratio of 13.00, a PEG ratio of 0.96 and a beta of 1.73. The firm has a fifty day moving average price of $114.02 and a 200-day moving average price of $125.76. Nucor has a 12 month low of $97.59 and a 12 month high of $170.52.

Nucor (NYSE:NUE - Get Free Report) last posted 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 firm had revenue of $7.83 billion for 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 company's revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.46 EPS. On average, sell-side analysts expect that Nucor will post 7.64 EPS for the current year.

Insider Activity

In related news, CEO Leon J. Topalian sold 34,238 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the sale, the chief executive officer now directly owns 162,993 shares of the company's stock, valued at $19,590,128.67. This trade represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.46% of the company's stock.

Institutional Trading of Nucor

Several hedge funds and other institutional investors have recently bought and sold shares of NUE. Exchange Traded Concepts LLC grew its holdings in Nucor by 6.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,542 shares of the basic materials company's stock worth $297,000 after acquiring an additional 152 shares during the period. Blue Trust Inc. grew its holdings in Nucor by 20.3% during the fourth quarter. Blue Trust Inc. now owns 3,845 shares of the basic materials company's stock worth $449,000 after acquiring an additional 648 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Nucor during the fourth quarter worth about $162,000. Mayflower Financial Advisors LLC boosted its position in Nucor by 6.9% during the fourth quarter. Mayflower Financial Advisors LLC now owns 2,210 shares of the basic materials company's stock worth $258,000 after purchasing an additional 143 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Nucor during the fourth quarter worth approximately $84,000. 76.48% of the stock is 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.