Nucor (NYSE:NUE) Given New $156.00 Price Target at JPMorgan Chase & Co.

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

Other equities research analysts have also recently issued research reports about the company. Citigroup decreased their target price on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group initiated coverage on Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective on the stock. Argus set a $155.00 target price on Nucor in a research report on Wednesday, March 5th. Jefferies Financial Group upped their price objective on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley upped their price objective on Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.33.

Nucor Trading Up 2.7 %

Shares of NUE stock opened at $130.07 on Tuesday. Nucor has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The firm has a market capitalization of $29.99 billion, a P/E ratio of 15.47, a PEG ratio of 0.96 and a beta of 1.58. The stock’s fifty day moving average is $128.83 and its two-hundred day moving average is $138.81. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same period in the prior year, the company posted $3.16 earnings per share. Research analysts expect that Nucor will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.69%. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

Hedge Funds Weigh In On Nucor

Large investors have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC acquired a new stake in Nucor during the third quarter worth about $333,000. Covestor Ltd increased its stake in Nucor by 103.0% during the third quarter. Covestor Ltd now owns 1,015 shares of the basic materials company’s stock worth $153,000 after acquiring an additional 515 shares during the last quarter. Axxcess Wealth Management LLC increased its stake in Nucor by 1.2% during the third quarter. Axxcess Wealth Management LLC now owns 8,468 shares of the basic materials company’s stock worth $1,273,000 after acquiring an additional 100 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Nucor during the third quarter worth about $26,000. Finally, GSA Capital Partners LLP acquired a new stake in Nucor during the third quarter worth about $239,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Company Profile

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.