Nucor (NYSE:NUE) has been assigned a $59.00 price objective by stock analysts at UBS Group in a note issued to investors on Wednesday, May 8th, Stock Target Advisor reports. The brokerage currently has a “hold” rating on the basic materials company’s stock. UBS Group’s price target would suggest a potential upside of 22.92% from the stock’s current price.
A number of other brokerages have also weighed in on NUE. Longbow Research lowered Nucor from a “buy” rating to a “neutral” rating in a research note on Monday, March 11th. Zacks Investment Research lowered Nucor from a “hold” rating to a “strong sell” rating in a research note on Friday, February 1st. Standpoint Research raised Nucor from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. ValuEngine lowered Nucor from a “hold” rating to a “sell” rating in a research report on Thursday, February 14th. Finally, Cowen started coverage on Nucor in a research report on Tuesday, January 8th. They issued an “outperform” rating and a $62.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $67.11.
NYSE NUE opened at $48.00 on Wednesday. The company has a market cap of $15.47 billion, a price-to-earnings ratio of 6.30, a price-to-earnings-growth ratio of 0.74 and a beta of 1.46. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.64 and a current ratio of 3.37. Nucor has a 12-month low of $47.13 and a 12-month high of $68.84.
In related news, insider Raymond S. Napolitan, Jr. sold 10,000 shares of Nucor stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $58.28, for a total value of $582,800.00. Following the completion of the transaction, the insider now directly owns 96,778 shares in the company, valued at $5,640,221.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leon J. Topalian sold 1,253 shares of Nucor stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $56.99, for a total value of $71,408.47. Following the completion of the transaction, the executive vice president now owns 46,593 shares of the company’s stock, valued at $2,655,335.07. The disclosure for this sale can be found here. Insiders have sold 76,314 shares of company stock valued at $4,310,637 over the last 90 days. Insiders own 0.96% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Pinnacle Bank bought a new position in Nucor in the fourth quarter worth about $26,000. Lindbrook Capital LLC bought a new stake in shares of Nucor during the fourth quarter valued at approximately $27,000. WealthBridge Capital Management LLC bought a new stake in shares of Nucor during the first quarter valued at approximately $29,000. Ropes Wealth Advisors LLC bought a new stake in shares of Nucor during the first quarter valued at approximately $34,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Nucor during the fourth quarter valued at approximately $38,000. 76.58% of the stock is currently owned by hedge funds and other institutional investors.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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