BMO Capital Markets Reiterates “$62.00” Price Target for Nucor (NYSE:NUE)

BMO Capital Markets set a $62.00 target price on Nucor (NYSE:NUE) in a report released on Friday, November 17th. The brokerage currently has a hold rating on the basic materials company’s stock.

A number of other equities analysts have also recently issued reports on NUE. Cowen restated a market perform rating and issued a $63.00 price objective (up previously from $62.00) on shares of Nucor in a research note on Tuesday, July 25th. Longbow Research restated a buy rating and issued a $66.00 price objective on shares of Nucor in a research note on Thursday, July 27th. KeyCorp reiterated a hold rating on shares of Nucor in a research report on Thursday, October 19th. Citigroup set a $66.00 target price on shares of Nucor and gave the stock a buy rating in a research report on Friday, October 20th. Finally, Credit Suisse Group increased their target price on shares of Nucor from $63.00 to $67.00 and gave the stock an outperform rating in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $67.32.

Shares of Nucor (NYSE NUE) opened at $57.30 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11. The stock has a market cap of $18,216.64, a price-to-earnings ratio of 16.85, a P/E/G ratio of 1.29 and a beta of 1.58. Nucor has a 1-year low of $51.67 and a 1-year high of $68.00.

Nucor (NYSE:NUE) last released its earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS. analysts anticipate that Nucor will post 3.69 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, September 29th were issued a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.51 annualized dividend and a yield of 2.64%. Nucor’s dividend payout ratio (DPR) is currently 43.90%.

In other news, insider Ladd R. Hall sold 17,583 shares of Nucor stock in a transaction that occurred 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 sale, the insider now directly owns 206,406 shares in the company, valued at $11,959,163.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of the transaction, the director now directly owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The disclosure for this sale can be found here. Insiders have sold a total of 44,217 shares of company stock worth $2,608,231 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Shelton Capital Management bought a new position in shares of Nucor in the third quarter valued at $449,000. Steward Partners Investment Advisory LLC bought a new position in Nucor during the third quarter worth $1,026,000. Smith Shellnut Wilson LLC ADV bought a new position in Nucor during the third quarter worth $229,000. Cetera Advisor Networks LLC boosted its position in Nucor by 27.5% during the third quarter. Cetera Advisor Networks LLC now owns 12,601 shares of the basic materials company’s stock worth $703,000 after purchasing an additional 2,716 shares during the period. Finally, Cetera Advisors LLC boosted its position in Nucor by 60.2% during the third quarter. Cetera Advisors LLC now owns 13,580 shares of the basic materials company’s stock worth $764,000 after purchasing an additional 5,103 shares during the period. 74.56% of the stock is owned by institutional investors and hedge funds.

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About Nucor

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).

Analyst Recommendations for Nucor (NYSE:NUE)

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