BMO Capital Markets set a $62.00 price target on Nucor Corporation (NYSE:NUE) in a research note issued to investors on Friday morning. The firm currently has a hold rating on the basic materials company’s stock.

NUE has been the subject of several other research reports. Macquarie initiated coverage on shares of Nucor Corporation in a report on Wednesday, September 6th. They issued a neutral rating and a $57.00 price target for the company. ValuEngine lowered shares of Nucor Corporation from a buy rating to a hold rating in a report on Friday, September 1st. Jefferies Group LLC set a $68.00 price target on shares of Nucor Corporation and gave the company a buy rating in a report on Monday, August 21st. Credit Suisse Group boosted their price target on shares of Nucor Corporation from $63.00 to $67.00 and gave the company an outperform rating in a report on Friday, October 20th. Finally, Cowen and Company boosted their price target on shares of Nucor Corporation from $57.00 to $63.00 and gave the company a market perform rating in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $67.32.

Shares of Nucor Corporation (NYSE NUE) traded up $0.01 during trading on Friday, hitting $54.80. 1,303,666 shares of the company’s stock traded hands, compared to its average volume of 2,690,896. Nucor Corporation has a 52 week low of $51.67 and a 52 week high of $68.00. The company has a market cap of $17,420.00, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.24 and a beta of 1.59. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37.

Nucor Corporation (NYSE:NUE) last announced its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01. Nucor Corporation had a net margin of 5.80% and a return on equity of 12.78%. The company had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the business earned $0.88 EPS. The firm’s revenue was up 20.5% on a year-over-year basis. research analysts forecast that Nucor Corporation will post 3.7 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, September 29th were paid a dividend of $0.3775 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.76%. Nucor Corporation’s dividend payout ratio is 42.06%.

In other news, insider D. Chad Utermark sold 9,003 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $59.72, for a total transaction of $537,659.16. Following the completion of the transaction, the insider now directly owns 73,883 shares in the company, valued at approximately $4,412,292.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ladd R. Hall sold 17,583 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the transaction, the insider now owns 206,406 shares of the company’s stock, valued at $11,959,163.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,217 shares of company stock valued at $2,608,231. Company insiders own 0.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of NUE. Mckinley Capital Management LLC Delaware acquired a new position in shares of Nucor Corporation during the 2nd quarter worth about $100,000. Krilogy Financial LLC boosted its stake in shares of Nucor Corporation by 4,594.6% during the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after buying an additional 1,700 shares during the last quarter. Washington Trust Bank boosted its stake in shares of Nucor Corporation by 60.2% during the 2nd quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock worth $102,000 after buying an additional 660 shares during the last quarter. Fiduciary Trust Co. acquired a new position in shares of Nucor Corporation during the 2nd quarter worth about $109,000. Finally, Sun Life Financial INC boosted its stake in shares of Nucor Corporation by 23,290.0% during the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock worth $135,000 after buying an additional 2,329 shares during the last quarter. Institutional investors own 74.59% of the company’s stock.

About Nucor Corporation

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 Corporation (NYSE:NUE)

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