Nucor (NYSE:NUE) Price Target Raised to $156.00

Nucor (NYSE:NUE) had its target price increased by JPMorgan Chase & Co. from $150.00 to $156.00 in a report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the basic materials company’s stock.

NUE has been the subject of a number of other research reports. UBS Group restated a “neutral” rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Citigroup lowered their price target 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. Jefferies Financial Group raised their price target on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group started coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. Finally, StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.33.

Nucor Stock Performance

Shares of NUE stock opened at $129.51 on Tuesday. The company has a fifty day moving average price of $129.42 and a two-hundred day moving average price of $138.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The stock has a market cap of $29.86 billion, a P/E ratio of 15.40, a P/E/G ratio of 0.96 and a beta of 1.58. Nucor has a one year low of $112.25 and a one year high of $203.00.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the previous year, the firm posted $3.16 earnings per share. As a group, equities analysts predict that Nucor will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.70%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio is currently 26.16%.

Hedge Funds Weigh In On Nucor

Several hedge funds have recently bought and sold shares of the company. CWA Asset Management Group LLC bought a new stake in shares of Nucor during the 3rd quarter valued at approximately $333,000. Covestor Ltd boosted its position in Nucor by 103.0% during the 3rd quarter. Covestor Ltd now owns 1,015 shares of the basic materials company’s stock worth $153,000 after buying an additional 515 shares during the period. Axxcess Wealth Management LLC boosted its position in Nucor by 1.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 8,468 shares of the basic materials company’s stock worth $1,273,000 after buying an additional 100 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Nucor during the 3rd quarter worth approximately $26,000. Finally, GSA Capital Partners LLP acquired a new stake in Nucor during the 3rd quarter worth approximately $239,000. 76.48% of the stock is owned by institutional investors.

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.