Nucor (NYSE:NUE) had its price objective boosted by research analysts at Credit Suisse Group from $67.00 to $73.00 in a report released on Wednesday. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Credit Suisse Group’s target price suggests a potential upside of 9.43% from the stock’s current price.
A number of other equities analysts have also commented on the company. Jefferies Group reaffirmed a “buy” rating and issued a $77.00 price target on shares of Nucor in a report on Tuesday, January 9th. Zacks Investment Research raised Nucor from a “sell” rating to a “hold” rating and set a $76.00 price objective for the company in a research note on Monday, January 8th. Bank of America set a $75.00 price objective on Nucor and gave the company a “buy” rating in a research note on Monday, January 8th. ValuEngine raised Nucor from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Longbow Research raised Nucor from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $69.44.
Nucor (NYSE NUE) traded down $0.11 during trading on Wednesday, hitting $66.71. The stock had a trading volume of 1,423,359 shares, compared to its average volume of 2,874,578. Nucor has a 52-week low of $51.67 and a 52-week high of $70.48. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $21,230.00, a price-to-earnings ratio of 16.29, a P/E/G ratio of 1.18 and a beta of 1.58.
In other Nucor news, EVP Robert J. Stratman sold 39,037 shares of Nucor stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the completion of the sale, the executive vice president now owns 233,824 shares of the company’s stock, valued at $14,936,677.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ladd R. Hall sold 17,583 shares of Nucor stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $57.94, for a total value of $1,018,759.02. Following the sale, the insider now directly owns 206,406 shares of the company’s stock, valued at approximately $11,959,163.64. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Krilogy Financial LLC lifted its stake in Nucor by 4,594.6% during the second quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,700 shares during the last quarter. Cerebellum GP LLC bought a new stake in Nucor during the fourth quarter worth about $131,000. Sun Life Financial INC lifted its stake in Nucor by 23,290.0% during the second quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock worth $135,000 after purchasing an additional 2,329 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Nucor by 791.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock worth $150,000 after purchasing an additional 2,373 shares during the last quarter. Finally, Appleton Partners Inc. MA bought a new stake in Nucor during the fourth quarter worth about $204,000. 74.46% of the stock is owned by hedge funds and other 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).
