Nucor (NYSE:NUE) had its price target lowered by equities research analysts at Morgan Stanley from $70.00 to $68.00 in a research report issued on Tuesday. The firm presently has a “hold” rating on the basic materials company’s stock. Morgan Stanley’s target price would suggest a potential upside of 13.56% from the company’s previous close.
Several other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Jefferies Group reaffirmed a “buy” rating and issued a $76.00 price target on shares of Nucor in a report on Wednesday, January 31st. BMO Capital Markets upped their price target on shares of Nucor to $72.00 and gave the company a “market perform” rating in a report on Wednesday, January 31st. They noted that the move was a valuation call. Credit Suisse Group upped their price target on shares of Nucor from $67.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Bank of America set a $75.00 price target on shares of Nucor and gave the company a “buy” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $69.90.
Shares of Nucor (NYSE NUE) traded down $0.50 during mid-day trading on Tuesday, hitting $59.88. 1,693,915 shares of the stock traded hands, compared to its average volume of 3,145,969. The stock has a market capitalization of $20,003.32, a P/E ratio of 14.46, a PEG ratio of 1.07 and a beta of 1.56. The company has a quick ratio of 1.19, a current ratio of 2.42 and a debt-to-equity ratio of 0.36. Nucor has a fifty-two week low of $51.67 and a fifty-two week high of $70.48.
In other Nucor news, EVP Robert J. Stratman sold 39,037 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the sale, the executive vice president now directly owns 233,824 shares of the company’s stock, valued at $14,936,677.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Independence Bank of Kentucky acquired a new stake in shares of Nucor during the fourth quarter worth $100,000. Barrett Asset Management LLC acquired a new stake in shares of Nucor during the fourth quarter worth $101,000. Krilogy Financial LLC raised its holdings in shares of 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 period. Cerebellum GP LLC acquired a new stake in shares of Nucor in the 4th quarter worth about $131,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Nucor by 791.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 2,373 shares during the period. 74.33% of the stock is currently owned by institutional investors.
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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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