Wells Fargo & Company Raises Nucor (NYSE:NUE) Price Target to $178.00

Nucor (NYSE:NUE) had its price objective increased by stock analysts at Wells Fargo & Company from $167.00 to $178.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 10.37% from the company’s previous close.

Several other analysts have also issued reports on the company. Bank of America increased their price objective on Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, September 15th. JPMorgan Chase & Co. upped their target price on Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, December 5th. Wall Street Zen upgraded Nucor from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Citigroup boosted their price target on Nucor from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Jefferies Financial Group increased their price objective on Nucor from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $172.80.

Nucor Stock Down 2.3%

Shares of NUE traded down $3.83 during trading hours on Monday, reaching $161.28. The company’s stock had a trading volume of 677,989 shares, compared to its average volume of 2,146,787. The company has a 50 day moving average of $148.14 and a two-hundred day moving average of $140.80. The company has a quick ratio of 1.51, a current ratio of 2.77 and a debt-to-equity ratio of 0.30. The firm has a market cap of $36.91 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 1.19 and a beta of 1.85. Nucor has a 1-year low of $97.59 and a 1-year high of $168.07.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 27th. The basic materials company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Nucor had a net margin of 5.18% and a return on equity of 7.80%. The firm had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the firm posted $1.49 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. Nucor has set its Q4 2025 guidance at -2.630 EPS. As a group, research analysts predict that Nucor will post 7.64 EPS for the current fiscal year.

Insider Activity at Nucor

In related news, EVP Allen C. Behr sold 9,042 shares of Nucor stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $151.28, for a total value of $1,367,873.76. Following the transaction, the executive vice president owned 73,661 shares in the company, valued at $11,143,436.08. This trade represents a 10.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stephen D. Laxton sold 2,003 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $151.57, for a total transaction of $303,594.71. Following the transaction, the chief financial officer directly owned 88,174 shares of the company’s stock, valued at approximately $13,364,533.18. This represents a 2.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 18,045 shares of company stock worth $2,720,628. 0.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Nucor

Several hedge funds have recently made changes to their positions in the stock. Berkshire Hathaway Inc bought a new position in Nucor during the second quarter valued at about $856,792,000. Norges Bank bought a new stake in shares of Nucor during the second quarter valued at approximately $479,858,000. Greenwich Wealth Management LLC acquired a new position in shares of Nucor in the second quarter valued at $123,145,000. Massachusetts Financial Services Co. MA bought a new position in Nucor in the second quarter worth $105,435,000. Finally, AQR Capital Management LLC boosted its stake in Nucor by 580.9% during the second quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock worth $84,699,000 after buying an additional 557,819 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.