Seaport Global analyst Martin Englert maintained a Buy rating on Nucor (NUE – Research Report) today and set a price target of $200.00. The company’s shares closed yesterday at $191.63.
Englert covers the Basic Materials sector, focusing on stocks such as Schnitzer Steel Industries, Nucor, and Steel Dynamics. According to TipRanks, Englert has an average return of -2.1% and a 60.47% success rate on recommended stocks.
In addition to Seaport Global, Nucor also received a Buy from Bank of America Securities’s Lawson Winder in a report issued yesterday. However, on April 16, J.P. Morgan maintained a Hold rating on Nucor (NYSE: NUE).
NUE market cap is currently $46.13B and has a P/E ratio of 10.64.
Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NUE in relation to earlier this year. Last month, Chad Utermark, the EVP of NUE sold 33,068.00 shares for a total of $6,459,013.74.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Nucor (NUE) Company Description:
Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment comprises carbon and alloy steel in sheet, bars, structural and plate; steel trading businesses; rebar distribution businesses; and Nucor’s equity method investments. The Steel Products segment includes steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, metal building systems, steel grating, tubular products businesses, piling products business, and wire and wire mesh. The Raw Materials segment consists direct reduced iron, and ferrous and nonferrous metals. The company was founded by Ransom E. Olds in 1905 and is headquartered in Charlotte, NC.
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