Nucor (NYSE:NUE) Given New $195.00 Price Target at JPMorgan Chase & Co.

Nucor (NYSE:NUE) had its target price hoisted by JPMorgan Chase & Co. from $180.00 to $195.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the basic materials company’s stock.

Other equities analysts have also issued reports about the company. StockNews.com raised Nucor from a hold rating to a buy rating in a research report on Wednesday, April 10th. UBS Group assumed coverage on Nucor in a research report on Tuesday, January 16th. They set a buy rating and a $210.00 target price on the stock. Finally, Citigroup raised Nucor from a neutral rating to a buy rating and upped their target price for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $192.83.

Nucor Price Performance

Nucor stock opened at $190.77 on Tuesday. The stock has a market capitalization of $45.78 billion, a price-to-earnings ratio of 10.60 and a beta of 1.61. Nucor has a 52-week low of $129.79 and a 52-week high of $203.00. The stock’s 50 day moving average price is $191.09 and its two-hundred day moving average price is $173.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.33. The firm had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.64 billion. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.89 EPS. On average, equities analysts predict that Nucor will post 13 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Wednesday, March 27th. Nucor’s payout ratio is currently 12.01%.

Insider Activity at Nucor

In related news, insider Michael D. Keller sold 3,145 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Douglas J. Jellison sold 19,506 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the sale, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The disclosure for this sale can be found here. In the last three months, insiders sold 38,151 shares of company stock valued at $7,308,683. 0.46% of the stock is owned by insiders.

Institutional Investors Weigh In On Nucor

Large investors have recently made changes to their positions in the business. Rise Advisors LLC purchased a new stake in shares of Nucor during the 1st quarter valued at $27,000. Criterion Capital Advisors LLC purchased a new stake in shares of Nucor during the 4th quarter valued at $25,000. Tompkins Financial Corp increased its position in shares of Nucor by 208.0% during the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Nucor during the 3rd quarter worth $25,000. Finally, Fortitude Family Office LLC grew its stake in shares of Nucor by 54.1% during the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 59 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

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.