Nucor Corporation (NYSE:NUE) Receives $273.31 Average Target Price from Analysts

Nucor Corporation (NYSE:NUE) has received an average rating of “Moderate Buy” from the sixteen research firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $273.3077.

Several equities analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Morgan Stanley set a $270.00 price target on shares of Nucor in a report on Wednesday, July 29th. UBS Group raised their price target on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Barclays lifted their price objective on shares of Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, Bank of America decreased their price objective on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, July 9th.

Nucor Stock Down 1.5%

Nucor stock opened at $268.11 on Tuesday. The business’s 50-day moving average price is $247.15 and its 200 day moving average price is $214.08. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The firm has a market cap of $60.83 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 0.60 and a beta of 1.89. Nucor has a 52 week low of $131.32 and a 52 week high of $280.11.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the previous year, the company posted $2.60 earnings per share. Nucor’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Nucor will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Nucor’s payout ratio is currently 17.86%.

Insiders Place Their Bets

In other Nucor news, EVP Randy J. Spicer sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $225.00, for a total value of $562,500.00. Following the sale, the executive vice president directly owned 20,510 shares of the company’s stock, valued at approximately $4,614,750. This trade represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the sale, the executive vice president owned 97,865 shares of the company’s stock, valued at $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 21,028 shares of company stock worth $5,355,535. 0.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nucor

A number of institutional investors have recently added to or reduced their stakes in NUE. Integrated Wealth Concepts LLC lifted its holdings in 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 purchasing an additional 568 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nucor during the first quarter worth about $259,000. Geneos Wealth Management Inc. increased its stake in shares of Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 153 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Nucor during the 2nd quarter worth about $390,000. Finally, Cerity Partners LLC raised its position in shares of Nucor by 51.9% during the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock worth $5,263,000 after purchasing an additional 13,877 shares during the last quarter. Institutional investors and hedge funds 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.