Nucor (NYSE:NUE) Price Target Cut to $169.00 by Analysts at The Goldman Sachs Group

Nucor (NYSE:NUE) had its target price decreased by The Goldman Sachs Group from $175.00 to $169.00 in a research note issued to investors on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the basic materials company’s stock.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. boosted their target price on Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Morgan Stanley set a $164.00 price objective on shares of Nucor in a research note on Monday, March 24th. Argus set a $155.00 target price on shares of Nucor in a research note on Wednesday, March 5th. Jefferies Financial Group increased their price target on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Finally, Citigroup reduced their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.11.

Nucor Stock Performance

NYSE NUE opened at $115.47 on Monday. The firm’s 50 day simple moving average is $128.38 and its 200 day simple moving average is $135.11. The firm has a market capitalization of $26.62 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 0.96 and a beta of 1.67. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. Nucor has a 1 year low of $97.59 and a 1 year high of $199.15.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm posted $3.16 EPS. As a group, research analysts expect that Nucor will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

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 given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is presently 26.16%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NUE. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Nucor in the fourth quarter valued at $25,000. Crews Bank & Trust acquired a new position in shares of Nucor in the 4th quarter valued at about $29,000. Putney Financial Group LLC bought a new stake in shares of Nucor during the 4th quarter valued at about $29,000. New Wave Wealth Advisors LLC acquired a new stake in Nucor during the fourth quarter worth approximately $33,000. Finally, Versant Capital Management Inc increased its holdings in Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

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.