Bank of America set a $75.00 target price on Nucor (NYSE:NUE) in a research report sent to investors on Monday, January 8th. The firm currently has a buy rating on the basic materials company’s stock.
NUE has been the subject of a number of other research reports. ValuEngine raised shares of Nucor from a hold rating to a buy rating in a report on Sunday, December 31st. Zacks Investment Research lowered shares of Nucor from a hold rating to a sell rating in a report on Tuesday, December 26th. Credit Suisse Group upped their price objective on shares of Nucor from $63.00 to $67.00 and gave the company an outperform rating in a report on Friday, October 20th. Cowen increased their target price on shares of Nucor from $57.00 to $63.00 and gave the stock a market perform rating in a research note on Monday, October 23rd. Finally, Citigroup set a $66.00 target price on shares of Nucor and gave the stock a buy rating in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Nucor presently has an average rating of Buy and an average price target of $68.37.
Nucor (NYSE:NUE) traded down $1.16 during trading hours on Monday, reaching $69.02. 2,637,200 shares of the company’s stock were exchanged, compared to its average volume of 2,925,589. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12. The firm has a market capitalization of $21,940.00, a PE ratio of 19.23, a PEG ratio of 1.21 and a beta of 1.58. Nucor has a 52 week low of $51.67 and a 52 week high of $70.48.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be paid a $0.38 dividend. This is a positive change from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 annualized dividend and a yield of 2.20%. The ex-dividend date is Thursday, December 28th. Nucor’s dividend payout ratio is currently 42.34%.
In related news, insider Ladd R. Hall sold 17,583 shares of Nucor stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $57.94, for a total value of $1,018,759.02. Following the transaction, the insider now directly owns 206,406 shares in the company, valued at approximately $11,959,163.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman John J. Ferriola sold 15,131 shares of the firm’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $60.40, for a total value of $913,912.40. Following the completion of the sale, the chairman now directly owns 349,506 shares of the company’s stock, valued at approximately $21,110,162.40. The disclosure for this sale can be found here. Insiders sold 80,754 shares of company stock worth $4,964,014 over the last quarter. 0.70% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Mckinley Capital Management LLC Delaware acquired a new stake in Nucor in the second quarter valued at $100,000. Krilogy Financial LLC raised its stake in shares of Nucor by 4,594.6% during the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after buying an additional 1,700 shares during the last quarter. Fiduciary Trust Co. acquired a new position in shares of Nucor during the 2nd quarter worth $109,000. Sun Life Financial INC raised its stake in shares of Nucor by 23,290.0% during the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock worth $135,000 after buying an additional 2,329 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Nucor by 791.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock worth $150,000 after buying an additional 2,373 shares during the last quarter. 74.34% of the stock is owned by institutional investors.
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Nucor Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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