JPMorgan Chase & Co. Cuts Nucor (NYSE:NUE) Price Target to $150.00

Nucor (NYSE:NUE) had its price objective dropped by analysts at JPMorgan Chase & Co. from $152.00 to $150.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 16.56% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group lifted their price objective on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday. UBS Group restated a “neutral” rating and issued a $156.00 price target (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Citigroup dropped their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Morgan Stanley decreased their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

Nucor Stock Up 1.4 %

Shares of NUE stock opened at $128.69 on Wednesday. Nucor has a one year low of $112.25 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The stock has a fifty day moving average price of $129.36 and a 200 day moving average price of $142.72. The stock has a market cap of $30.22 billion, a P/E ratio of 12.43 and a beta of 1.60.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.28. Nucor had a net margin of 8.05% and a return on equity of 12.06%. During the same quarter last year, the company posted $3.16 EPS. Analysts predict that Nucor will post 8.18 earnings per share for the current year.

Insider Buying and Selling at Nucor

In related news, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the transaction, the chief financial officer now directly owns 82,132 shares in the company, valued at $13,923,837.96. This represents a 5.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the sale, the executive vice president now owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,680 shares of company stock valued at $3,452,524 in the last ninety days. 0.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nucor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP grew its stake in shares of Nucor by 65.9% in the 4th quarter. Allworth Financial LP now owns 1,375 shares of the basic materials company’s stock worth $168,000 after acquiring an additional 546 shares in the last quarter. Beacon Capital Management LLC increased its stake in Nucor by 29.1% in the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after buying an additional 94 shares during the last quarter. Bull Street Advisors LLC lifted its position in shares of Nucor by 1.3% during the 4th quarter. Bull Street Advisors LLC now owns 9,522 shares of the basic materials company’s stock worth $1,111,000 after buying an additional 120 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Nucor by 4.0% in the 4th quarter. V Square Quantitative Management LLC now owns 5,568 shares of the basic materials company’s stock worth $650,000 after buying an additional 216 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in shares of Nucor by 12.5% in the fourth quarter. Vontobel Holding Ltd. now owns 9,013 shares of the basic materials company’s stock valued at $1,052,000 after acquiring an additional 1,001 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other 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.