Nucor (NYSE:NUE) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Nucor (NYSE:NUE) had its price objective upped by research analysts at The Goldman Sachs Group from $240.00 to $260.00 in a research report issued on Friday,MarketScreener reports. The Goldman Sachs Group’s price objective indicates a potential upside of 15.08% from the stock’s current price.

NUE has been the topic of a number of other research reports. KeyCorp assumed coverage on Nucor in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Morgan Stanley increased their price target on Nucor from $180.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Seaport Research Partners reissued a “buy” rating and set a $245.00 price target on shares of Nucor in a research report on Thursday. Wall Street Zen raised Nucor from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. increased their price target on Nucor from $212.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $240.00.

Nucor Price Performance

Nucor stock opened at $225.93 on Friday. Nucor has a 12 month low of $106.21 and a 12 month high of $227.96. The stock’s 50 day moving average is $180.91 and its 200-day moving average is $168.78. The company has a current ratio of 2.90, a quick ratio of 1.57 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $51.43 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 0.75 and a beta of 1.87.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. The business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. Equities research analysts expect that Nucor will post 13.17 EPS for the current year.

Nucor declared that its Board of Directors has approved a share buyback plan on Friday, February 20th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the basic materials company to purchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Allen C. Behr sold 7,568 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total value of $1,426,568.00. Following the completion of the transaction, the executive vice president directly owned 67,711 shares in the company, valued at approximately $12,763,523.50. This represents a 10.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total value of $1,460,741.04. Following the completion of the transaction, the executive vice president owned 76,628 shares of the company’s stock, valued at $15,020,620.56. The trade was a 8.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,520 shares of company stock valued at $4,245,334 over the last quarter. 0.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NUE. Anchor Investment Management LLC grew its holdings in Nucor by 5.2% during the 1st quarter. Anchor Investment Management LLC now owns 3,022 shares of the basic materials company’s stock worth $511,000 after acquiring an additional 150 shares during the period. 180 Wealth Advisors LLC grew its stake in shares of Nucor by 192.8% in the 1st quarter. 180 Wealth Advisors LLC now owns 5,078 shares of the basic materials company’s stock valued at $859,000 after buying an additional 3,344 shares during the period. Citizens Financial Group Inc. RI lifted its position in Nucor by 6.0% in the 1st quarter. Citizens Financial Group Inc. RI now owns 4,631 shares of the basic materials company’s stock valued at $783,000 after acquiring an additional 264 shares in the last quarter. Midwest Trust Co bought a new position in Nucor in the 1st quarter valued at about $230,000. Finally, Fifth Third Bancorp lifted its position in Nucor by 343.5% in the 1st quarter. Fifth Third Bancorp now owns 46,827 shares of the basic materials company’s stock valued at $7,919,000 after acquiring an additional 36,269 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

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.