Nucor (NYSE:NUE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Nucor (NYSE:NUE) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Other analysts have also recently issued research reports about the stock. BNP Paribas Exane raised their price objective on shares of Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Citigroup lifted their price target on shares of Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Nucor in a report on Wednesday, October 29th. Finally, UBS Group downgraded Nucor from a “buy” rating to a “neutral” rating and set a $183.00 target price for the company. in a report on Wednesday, January 28th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $179.36.

Nucor Stock Up 1.9%

Nucor stock opened at $181.03 on Friday. The stock has a market cap of $41.43 billion, a PE ratio of 24.01, a P/E/G ratio of 0.97 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. The stock’s fifty day moving average is $166.99 and its two-hundred day moving average is $151.07. Nucor has a 1-year low of $97.59 and a 1-year high of $183.32.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The business had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the previous year, the company posted $1.22 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts expect that Nucor will post 7.64 EPS for the current fiscal year.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st will be paid a $0.56 dividend. This is an increase from Nucor’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, December 31st. This represents a $2.24 annualized dividend and a dividend yield of 1.2%. Nucor’s dividend payout ratio (DPR) is 29.71%.

Insider Transactions at Nucor

In other Nucor news, EVP Allen C. Behr sold 5,950 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $157.89, for a total transaction of $939,445.50. Following the completion of the transaction, the executive vice president owned 67,711 shares in the company, valued at approximately $10,690,889.79. This represents a 8.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas J. Batterbee sold 2,000 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total transaction of $330,560.00. Following the completion of the sale, the executive vice president owned 17,952 shares of the company’s stock, valued at $2,967,106.56. This trade represents a 10.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 14,950 shares of company stock worth $2,319,166 over the last 90 days. 0.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nucor

Several institutional investors have recently made changes to their positions in the stock. Stance Capital LLC purchased a new position in shares of Nucor in the 3rd quarter valued at about $25,000. IMA Advisory Services Inc. increased its holdings in Nucor by 51.4% in the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock valued at $29,000 after buying an additional 75 shares in the last quarter. AXS Investments LLC purchased a new position in Nucor in the third quarter valued at about $37,000. Vision Financial Markets LLC lifted its position in shares of Nucor by 281.7% during the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 200 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Nucor during the 2nd quarter worth approximately $39,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.