Nucor Corporation (NYSE:NUE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Nucor Corporation (NYSE:NUE) has received an average rating of “Moderate Buy” from the sixteen research firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $266.3077.

A number of equities analysts recently issued reports on the company. UBS Group cut Nucor from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $190.00 to $224.00 in a report on Tuesday, April 28th. JPMorgan Chase & Co. lifted their target price on Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Zacks Research lowered shares of Nucor from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings upgraded shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 14th. Finally, CICC Research initiated coverage on shares of Nucor in a report on Monday, May 25th. They set an “outperform” rating for the company.

Insider Activity

In related news, EVP Allen C. Behr sold 10,096 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $226.08, for a total value of $2,282,503.68. Following the completion of the sale, the executive vice president owned 62,871 shares in the company, valued at approximately $14,213,875.68. The trade was a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bradley Ford sold 2,240 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total value of $519,971.20. Following the completion of the transaction, the executive vice president directly owned 43,649 shares in the company, valued at approximately $10,132,242.37. This trade represents a 4.88% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 82,378 shares of company stock valued at $18,963,930. Insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Nucor

Large investors have recently modified their holdings of the business. Stance Capital LLC bought a new position in shares of Nucor during the third quarter valued at approximately $25,000. Strive Financial Group LLC purchased a new position in shares of Nucor in the 4th quarter valued at $27,000. Motiv8 Investments LLC bought a new position in shares of Nucor in the 4th quarter worth $32,000. Bartlett & CO. Wealth Management LLC raised its holdings in Nucor by 49.2% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 63 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new stake in shares of Nucor during the fourth quarter valued at about $32,000. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Nucor stock opened at $233.26 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. The firm has a market capitalization of $53.12 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 0.53 and a beta of 1.91. Nucor has a 1-year low of $131.32 and a 1-year high of $270.90. The company’s 50-day moving average is $239.26 and its 200 day moving average is $202.86.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.41. The business had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. Research analysts forecast that Nucor will post 17.68 EPS for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. Nucor’s dividend payout ratio (DPR) is 22.18%.

About Nucor

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.