Nucor Corporation (NYSE:NUE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Nucor Corporation (NYSE:NUEGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $266.3077.

A number of equities research analysts have commented on the stock. KeyCorp raised shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price objective on the stock in a report on Wednesday, June 24th. Bank of America dropped their target price on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Argus upped their target price on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Barclays increased their price target on shares of Nucor from $270.00 to $272.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, BMO Capital Markets boosted their price objective on shares of Nucor from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd.

Get Our Latest Stock Analysis on Nucor

Insider Activity at Nucor

In related news, EVP Randy J. Spicer sold 2,500 shares of Nucor stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $225.00, for a total value of $562,500.00. Following the completion of the sale, the executive vice president directly owned 20,510 shares in the company, valued at $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 can be accessed through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the sale, the executive vice president directly owned 97,865 shares of the company’s stock, valued at $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,378 shares of company stock valued at $18,963,930 over the last quarter. 0.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in Nucor in the fourth quarter valued at approximately $609,002,000. AQR Capital Management LLC grew its holdings in Nucor by 580.9% during the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock worth $84,699,000 after acquiring an additional 557,819 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Nucor by 169.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock worth $127,216,000 after acquiring an additional 489,950 shares during the period. Bank of New York Mellon Corp raised its position in shares of Nucor by 27.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock valued at $290,405,000 after acquiring an additional 383,952 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of Nucor by 494.5% during the 4th quarter. M&T Bank Corp now owns 434,511 shares of the basic materials company’s stock valued at $70,873,000 after acquiring an additional 361,417 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 2.0%

Shares of NUE opened at $240.63 on Friday. The stock has a fifty day moving average price of $239.49 and a two-hundred day moving average price of $203.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. Nucor has a 52-week low of $131.32 and a 52-week high of $270.90. The company has a market cap of $54.80 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 0.54 and a beta of 1.91.

Nucor (NYSE:NUEGet Free Report) last posted its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business’s revenue was up 21.3% on a year-over-year basis. Analysts predict that Nucor will post 17.53 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is 22.18%.

About Nucor

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Nucor (NYSE:NUE)

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