Nucor (NYSE:NUE) Price Target Raised to $304.00

Key Points

• JPMorgan raised Nucor’s price target to $304 from $296 and maintained an “overweight” rating, implying 13.23% upside from the previous close. Analysts overall give the stock a “Moderate Buy” consensus rating with an average target of $282.57.
• Nucor reported quarterly revenue of $11.25 billion, up 32% year over year, while EPS of $5.80 narrowly missed consensus. Management expects fourth-quarter earnings to remain generally in line with or modestly above the third quarter, supported by pricing and demand.
• The stock fell 0.9% to $268.49, while executives recently sold shares and insiders own just 0.62% of the company. Institutional investors remain significant holders, owning 76.48% of outstanding shares.

Nucor (NYSE:NUE - Get Free Report) had its price objective upped by research analysts at JPMorgan Chase & Co. from $296.00 to $304.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the basic materials company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 13.23% from the company's previous close.

Several other brokerages also recently issued reports on NUE. Morgan Stanley set a $270.00 price objective on Nucor in a research report on Wednesday, July 29th. BMO Capital Markets upped their target price on Nucor from $285.00 to $295.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. KeyCorp lowered their target price on Nucor from $288.00 to $286.00 and set an "overweight" rating for the company in a research note on Monday, October 5th. Wells Fargo & Company raised their target price on Nucor from $280.00 to $305.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Bank of America dropped their target price on Nucor from $290.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $282.57.

Nucor Trading Down 0.9%

NYSE NUE traded down $2.31 during mid-day trading on Wednesday, hitting $268.49. The company's stock had a trading volume of 1,014,163 shares, compared to its average volume of 1,536,597. The firm has a market capitalization of $60.91 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 0.64 and a beta of 1.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. Nucor has a 52-week low of $140.93 and a 52-week high of $280.11. The stock's fifty day simple moving average is $252.47 and its two-hundred day simple moving average is $221.81.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, October 26th. The basic materials company reported $5.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.84 by ($0.04). Nucor had a return on equity of 12.73% and a net margin of 7.99%. The business had revenue of $11.25 billion for the quarter, compared to analysts' expectations of $10.84 billion. During the same quarter in the prior year, the firm earned $2.63 earnings per share. Nucor's quarterly revenue was up 32.0% compared to the same quarter last year. Research analysts expect that Nucor will post 19.62 EPS for the current year.

Insider Activity at Nucor

In other news, EVP Thomas J. Batterbee sold 4,000 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the transaction, the executive vice president directly owned 16,138 shares of the company's stock, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the firm's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the transaction, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.62% of the company's stock.

Institutional Trading of Nucor

Hedge funds and other institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System lifted its position in shares of Nucor by 19.3% in the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company's stock worth $86,297,000 after acquiring an additional 82,668 shares during the period. Tidal Investments LLC grew its holdings in shares of Nucor by 31.2% during the 2nd quarter. Tidal Investments LLC now owns 61,952 shares of the basic materials company's stock worth $13,800,000 after purchasing an additional 14,736 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Nucor during the second quarter valued at approximately $7,954,000. BIP Wealth LLC bought a new stake in shares of Nucor during the second quarter valued at approximately $852,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Nucor by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company's stock valued at $306,054,000 after purchasing an additional 29,476 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor News Summary

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Strong Q3 results: Nucor reported $1.32 billion in net earnings, or $5.80 per diluted share, on $11.25 billion of revenue. Revenue increased 32% year over year, while higher steel prices and shipments lifted profitability across the steel mills and steel products businesses. Nucor Reports Results for the Third Quarter of 2026
• Positive Sentiment: Constructive outlook: Management expects fourth-quarter earnings to be generally in line with or modestly above the third quarter, as higher realized pricing could offset seasonally lower volumes and rising costs. Executives also cited strong demand and improving prices as reasons for expecting further growth in 2027. Nucor Q3 Earnings Call Highlights Strong Demand and 2027 Growth
• Positive Sentiment: Analyst target increase: Barclays raised its price target from $306 to $320 and maintained an “overweight” rating, implying substantial upside based on the referenced share price. The upgrade reinforces the view that Nucor’s earnings momentum and long-term investments are not fully reflected in the valuation.
• Positive Sentiment: Long-term growth catalysts: The West Virginia sheet mill and Berkeley galvanizing line have begun production, while data-center, utility-grid, automotive and infrastructure demand could support future volumes. Nucor also repurchased approximately 2.03 million shares during the quarter and returned significant capital through buybacks and dividends. Nucor Corporation stock information
• Neutral Sentiment: The reported $5.80 EPS was slightly below some consensus estimates, although revenue exceeded expectations and other estimates characterized earnings as a beat. Pre-operating and startup expenses are expected to remain elevated into 2027.
• Negative Sentiment: Insider-trading data shows substantial executive selling and no reported insider purchases over the past six months. This may temper near-term enthusiasm, despite the stronger operating results.

Nucor Company Profile

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor's operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.

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