Nucor (NYSE:NUE) Price Target Raised to $185.00 at Seaport Research Partners

Nucor (NYSE:NUE) had its target price upped by Seaport Research Partners from $170.00 to $185.00 in a research report sent to investors on Friday morning,MarketScreener reports. The firm currently has a buy rating on the basic materials company’s stock.

NUE has been the topic of a number of other research reports. BMO Capital Markets restated an “outperform” rating on shares of Nucor in a report on Wednesday, October 29th. The Goldman Sachs Group raised their price objective on shares of Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Citigroup upped their price target on Nucor from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a report on Monday, December 29th. Finally, Jefferies Financial Group increased their target price on shares of Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.36.

Nucor Trading Down 1.2%

NYSE NUE traded down $2.24 on Friday, hitting $177.67. The company’s stock had a trading volume of 3,064,500 shares, compared to its average volume of 1,741,308. The firm has a market cap of $40.66 billion, a PE ratio of 23.56, a PEG ratio of 0.98 and a beta of 1.87. The company has a quick ratio of 1.51, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. Nucor has a 1-year low of $97.59 and a 1-year high of $183.32. The company’s 50-day moving average is $166.44 and its 200 day moving average is $150.62.

Nucor (NYSE:NUE) last released its earnings results 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 firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period in the prior year, the company posted $1.22 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, analysts predict that Nucor will post 7.64 earnings per share for the current fiscal year.

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Investors of record on Wednesday, December 31st will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.3%. This is a positive change from Nucor’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, December 31st. Nucor’s dividend payout ratio (DPR) is presently 29.71%.

Insider Buying and Selling at Nucor

In other news, EVP John J. Hollatz sold 7,000 shares of Nucor stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $149.88, for a total transaction of $1,049,160.00. Following the transaction, the executive vice president directly owned 96,550 shares of the company’s stock, valued at $14,470,914. The trade was a 6.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas J. Batterbee sold 2,000 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $165.28, for a total value of $330,560.00. Following the completion of the transaction, the executive vice president owned 17,952 shares in the company, valued at $2,967,106.56. The trade was a 10.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 14,950 shares of company stock valued at $2,319,166. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nucor

A number of institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC increased its stake in shares of Nucor by 21.1% during the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after buying an additional 568 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Nucor during the 1st quarter valued at about $259,000. Geneos Wealth Management Inc. increased its stake in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 153 shares during the period. Sivia Capital Partners LLC purchased a new position in Nucor during the second quarter valued at approximately $390,000. Finally, Truist Financial Corp increased its holdings in Nucor by 1.4% in the second quarter. Truist Financial Corp now owns 154,622 shares of the basic materials company’s stock valued at $20,030,000 after buying an additional 2,159 shares in the last quarter. 76.48% of the stock is owned by 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.