Nucor (NYSE:NUE) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Nucor (NYSE:NUE) had its target price lifted by Jefferies Financial Group from $125.00 to $135.00 in a report released on Wednesday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the basic materials company’s stock.

NUE has been the topic of a number of other reports. The Goldman Sachs Group began coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. 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 note on Wednesday, October 23rd. Citigroup cut their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. UBS Group reaffirmed a “neutral” rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.63.

Nucor Stock Up 0.3 %

Shares of NUE opened at $126.88 on Wednesday. Nucor has a 52-week low of $112.25 and a 52-week high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $129.79 and a two-hundred day simple moving average of $142.83. The company has a market capitalization of $29.79 billion, a PE ratio of 12.26 and a beta of 1.60.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping 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 in the previous year, the company earned $3.16 earnings per share. As a group, equities analysts forecast that Nucor will post 8.18 EPS for the current year.

Nucor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be paid a $0.55 dividend. This is a positive change from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.73%. Nucor’s dividend payout ratio (DPR) is presently 21.26%.

Insider Buying and Selling

In related news, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the transaction, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at $29,109,918.96. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the sale, the chief financial officer now owns 82,132 shares in the company, valued at approximately $13,923,837.96. This trade represents a 5.43 % decrease in their position. 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. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Nucor

A number of institutional investors and hedge funds have recently modified their holdings of NUE. Ashton Thomas Securities LLC purchased a new stake in Nucor in the third quarter valued at approximately $26,000. Coastline Trust Co purchased a new position in Nucor during the third quarter worth $29,000. Crews Bank & Trust acquired a new position in shares of Nucor in the fourth quarter valued at approximately $29,000. Brown Lisle Cummings Inc. purchased a new position in Nucor during the third quarter worth about $30,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Nucor in the fourth quarter valued at $33,000. Institutional investors and hedge funds 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.