UBS Group Raises Nucor (NYSE:NUE) Price Target to $184.00

Nucor (NYSE:NUE) had its price objective boosted by analysts at UBS Group from $183.00 to $184.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. UBS Group’s target price indicates a potential upside of 13.04% from the company’s previous close.

A number of other research firms also recently issued reports on NUE. Jefferies Financial Group raised their price target on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Seaport Research Partners raised their target price on Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. BMO Capital Markets upped their price target on shares of Nucor from $190.00 to $196.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Nucor from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $188.00.

Nucor Stock Performance

Shares of NUE stock traded down $0.70 during trading hours on Monday, reaching $162.78. The company had a trading volume of 689,691 shares, compared to its average volume of 1,757,265. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. The business has a fifty day moving average price of $177.20 and a 200-day moving average price of $158.58. Nucor has a one year low of $97.59 and a one year high of $196.90. The firm has a market cap of $37.08 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 0.58 and a beta of 1.83.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share 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 company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the company earned $1.22 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts predict that Nucor will post 7.64 earnings per share for the current fiscal year.

Nucor announced that its board has approved a share repurchase program on Friday, February 20th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $178.00, for a total value of $690,818.00. Following the completion of the sale, the executive vice president owned 88,298 shares in the company, valued at approximately $15,717,044. This represents a 4.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total value of $1,426,568.00. Following the completion of the transaction, the executive vice president owned 67,711 shares in the company, valued at $12,763,523.50. The trade was a 10.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 34,351 shares of company stock valued at $6,206,158. Company insiders own 0.71% of the company’s stock.

Institutional Trading of Nucor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empirical Asset Management LLC grew its holdings in Nucor by 2.6% during the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock valued at $347,000 after buying an additional 54 shares in the last quarter. Krilogy Financial LLC lifted its holdings in shares of Nucor by 4.1% in the fourth quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock worth $272,000 after buying an additional 61 shares in the last quarter. IHT Wealth Management LLC boosted its position in shares of Nucor by 2.0% during the fourth quarter. IHT Wealth Management LLC now owns 3,306 shares of the basic materials company’s stock worth $539,000 after acquiring an additional 64 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in Nucor by 3.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,011 shares of the basic materials company’s stock valued at $328,000 after acquiring an additional 69 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in Nucor by 5.6% in the 3rd quarter. Whittier Trust Co. now owns 1,330 shares of the basic materials company’s stock valued at $184,000 after acquiring an additional 70 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

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.