Nucor Co. (NYSE:NUE) Receives $186.67 Average Price Target from Analysts

Shares of Nucor Co. (NYSE:NUE) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $192.83.

NUE has been the topic of a number of analyst reports. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. StockNews.com upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. upped their target price on Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, UBS Group initiated coverage on Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target on the stock.

Insider Activity

In related news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the transaction, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the transaction, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,151 shares of company stock worth $7,308,683. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Nucor

Institutional investors have recently modified their holdings of the business. SVB Wealth LLC grew its position in shares of Nucor by 1.5% in the 4th quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock valued at $636,000 after buying an additional 54 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Nucor by 6.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock valued at $151,000 after acquiring an additional 54 shares during the last quarter. Kestra Private Wealth Services LLC increased its position in Nucor by 0.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock valued at $1,252,000 after purchasing an additional 55 shares during the period. Householder Group Estate & Retirement Specialist LLC raised its holdings in Nucor by 36.6% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 59 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its position in shares of Nucor by 54.1% in the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 59 shares during the period. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NYSE NUE opened at $192.78 on Friday. The business’s 50 day moving average is $191.00 and its 200-day moving average is $173.20. The firm has a market cap of $46.26 billion, a P/E ratio of 10.72 and a beta of 1.61. Nucor has a 1-year low of $129.79 and a 1-year high of $203.00. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 29th. The basic materials company reported $3.16 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.33. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The firm had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter last year, the business earned $4.89 EPS. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. Equities research analysts predict that Nucor will post 13 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.12%. The ex-dividend date is Wednesday, March 27th. Nucor’s payout ratio is 12.01%.

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.