Nucor (NYSE:NUE) Price Target Raised to $210.00

Nucor (NYSE:NUE) had its price target boosted by BNP Paribas Exane from $185.00 to $210.00 in a research report sent to investors on Monday,MarketScreener reports. The brokerage currently has an outperform rating on the basic materials company’s stock.

Several other analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Nucor from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Wells Fargo & Company increased their price target on shares of Nucor from $197.00 to $213.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. Morgan Stanley reissued an “equal weight” rating and set a $180.00 price target (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. Finally, Seaport Research Partners increased their price target on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.10.

Nucor Trading Up 3.0%

NYSE NUE opened at $214.28 on Monday. The firm’s 50-day moving average is $176.66 and its two-hundred day moving average is $165.53. Nucor has a 12 month low of $106.21 and a 12 month high of $216.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. The stock has a market capitalization of $48.78 billion, a P/E ratio of 28.42, a PEG ratio of 0.73 and a beta of 1.73.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS 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 during the quarter, compared to analyst estimates of $7.93 billion. During the same period in the previous year, the company earned $1.22 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Nucor will post 12.18 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.56 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. Nucor’s dividend payout ratio (DPR) is 29.71%.

Nucor declared that its Board of Directors has initiated a share repurchase program on Friday, February 20th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 9.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Nucor

In other news, EVP Kenneth Rex Query sold 7,452 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the transaction, the executive vice president directly owned 76,628 shares in the company, valued at approximately $15,020,620.56. This trade represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Daniel R. Needham sold 3,881 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $178.00, for a total transaction of $690,818.00. Following the transaction, the executive vice president owned 88,298 shares in the company, valued at approximately $15,717,044. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 26,401 shares of company stock worth $4,936,152. Insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Nucor

A number of hedge funds and other institutional investors have recently bought and sold shares of NUE. Stance Capital LLC acquired a new stake in Nucor in the third quarter valued at $25,000. Strive Financial Group LLC purchased a new position in shares of Nucor in the fourth quarter valued at $27,000. Motiv8 Investments LLC purchased a new position in shares of Nucor in the fourth quarter valued at $32,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Nucor in the fourth quarter valued at $32,000. Finally, Reflection Asset Management purchased a new position in shares of Nucor in the fourth quarter valued at $36,000. 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.