Nucor (NYSE:NUE) Price Target Raised to $135.00 at Jefferies Financial Group

Nucor (NYSE:NUE) had its price objective lifted by stock analysts at Jefferies Financial Group from $125.00 to $135.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the basic materials company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 4.90% from the company’s previous close.

Several other equities research analysts have also recently weighed in on NUE. The Goldman Sachs Group started 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. JPMorgan Chase & Co. decreased their price objective on Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. UBS Group reiterated a “neutral” rating and issued a $156.00 target price (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Morgan Stanley lowered their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Citigroup decreased their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

Nucor Price Performance

Shares of NUE stock opened at $128.69 on Wednesday. The company has a market capitalization of $30.22 billion, a P/E ratio of 12.43 and a beta of 1.60. The company’s 50-day simple moving average is $129.36 and its two-hundred day simple moving average is $142.72. Nucor has a one year low of $112.25 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate of $0.94 by $0.28. Nucor had a return on equity of 12.06% and a net margin of 8.05%. During the same quarter in the prior year, the company posted $3.16 EPS. As a group, equities analysts anticipate that Nucor will post 8.18 EPS for the current year.

Insider Buying and Selling

In related news, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the transaction, the chief executive officer now directly owns 172,136 shares in the company, valued at $29,109,918.96. The trade was a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the sale, the executive vice president now directly owns 85,376 shares in the company, valued at $13,636,254.72. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,680 shares of company stock valued at $3,452,524 over the last quarter. 0.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nucor

Several large investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of Nucor in the third quarter worth about $26,000. Coastline Trust Co acquired a new position in Nucor in the 3rd quarter worth about $29,000. Crews Bank & Trust purchased a new position in Nucor during the fourth quarter worth approximately $29,000. Brown Lisle Cummings Inc. acquired a new stake in Nucor in the third quarter valued at approximately $30,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Nucor in the fourth quarter valued at approximately $33,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

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.