Nucor Corporation (NYSE:NUE) Receives $187.90 Average PT from Brokerages

Shares of Nucor Corporation (NYSE:NUE) have earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $188.00.

A number of research analysts have weighed in on NUE shares. Jefferies Financial Group raised their price objective on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, January 12th. Wall Street Zen cut shares of Nucor from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. BNP Paribas Exane raised their price target on shares of Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, January 2nd. The Goldman Sachs Group boosted their price target on shares of Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $180.00 price objective (up from $165.00) on shares of Nucor in a research note on Friday, January 9th.

Nucor Price Performance

Shares of Nucor stock opened at $160.94 on Friday. The business has a 50 day simple moving average of $176.86 and a two-hundred day simple moving average of $158.78. Nucor has a 12 month low of $97.59 and a 12 month high of $196.90. The stock has a market capitalization of $36.66 billion, a P/E ratio of 21.35, a PEG ratio of 0.58 and a beta of 1.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The firm had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period in the prior year, the firm earned $1.22 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. As a group, analysts predict that Nucor will post 7.64 EPS for the current fiscal year.

Nucor announced that its board has initiated a share repurchase plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the basic materials company to purchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be given a $0.56 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.4%. Nucor’s dividend payout ratio is 29.71%.

Insider Buying and Selling

In related news, EVP Kenneth Rex Query sold 7,452 shares of Nucor stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the transaction, the executive vice president owned 76,628 shares in the company, valued at approximately $15,020,620.56. This trade represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas J. Batterbee sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total value of $330,560.00. Following the transaction, the executive vice president directly owned 17,952 shares in the company, 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 a total of 34,351 shares of company stock worth $6,206,158 in the last three months. Company insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Strive Financial Group LLC acquired a new stake in Nucor during the fourth quarter worth about $27,000. Stance Capital LLC acquired a new position in Nucor in the 3rd quarter valued at about $25,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Nucor in the 4th quarter valued at approximately $32,000. Motiv8 Investments LLC purchased a new stake in shares of Nucor in the 4th quarter valued at approximately $32,000. Finally, Reflection Asset Management acquired a new stake in shares of Nucor during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

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.