Jefferies Financial Group Issues Positive Forecast for Nucor (NYSE:NUE) Stock Price

Nucor (NYSE:NUE) had its price target boosted by investment analysts at Jefferies Financial Group from $125.00 to $135.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the basic materials company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 6.68% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. UBS Group reiterated a “neutral” rating and set a $156.00 target price (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. The Goldman Sachs Group initiated coverage on shares of Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target for the company. Citigroup decreased their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley dropped their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their price target on Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.88.

Nucor Trading Up 3.8 %

Nucor stock opened at $126.55 on Wednesday. The business has a 50-day simple moving average of $130.15 and a two-hundred day simple moving average of $143.08. Nucor has a 52-week low of $112.25 and a 52-week high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The company has a market cap of $29.72 billion, a P/E ratio of 12.23 and a beta of 1.60.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 8.05% and a return on equity of 12.06%. During the same quarter in the previous year, the company earned $3.16 earnings per share. Analysts predict that Nucor will post 8.18 EPS for the current year.

Insider Activity

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the sale, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the transaction, the executive vice president now owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,680 shares of company stock worth $3,452,524. 0.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nucor

Hedge funds and other institutional investors have recently made changes to their positions in the company. Stiles Financial Services Inc grew its holdings in Nucor by 19.7% during the 4th quarter. Stiles Financial Services Inc now owns 4,376 shares of the basic materials company’s stock valued at $511,000 after purchasing an additional 721 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Nucor by 38.0% during the fourth quarter. Stephens Inc. AR now owns 8,455 shares of the basic materials company’s stock valued at $987,000 after buying an additional 2,327 shares during the period. Entropy Technologies LP bought a new position in shares of Nucor during the fourth quarter valued at approximately $4,797,000. Farmers & Merchants Investments Inc. raised its holdings in shares of Nucor by 1.3% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 80,535 shares of the basic materials company’s stock worth $9,399,000 after buying an additional 1,000 shares during the period. Finally, Counterweight Ventures LLC lifted its stake in shares of Nucor by 2.4% during the 4th quarter. Counterweight Ventures LLC now owns 14,465 shares of the basic materials company’s stock worth $1,688,000 after acquiring an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.