Nucor Corporation (NYSE:NUE) Stock Has Consensus Price Target of $276.86

Key Points

• Nucor holds a “Moderate Buy” consensus rating from 17 analysts, with an average 12-month price target of $276.86 versus the reported share price of $258.23.
• The company exceeded quarterly expectations, posting $4.84 in EPS and $10.40 billion in revenue; revenue increased 23% year over year, while analysts forecast $19.62 in full-year EPS.
• Insiders recently sold shares, while institutional investors own 76.48% of Nucor. The company also declared a quarterly dividend of $0.56, equal to a 0.9% annualized yield.

Nucor Corporation (NYSE:NUE - Get Free Report) has been given an average rating of "Moderate Buy" by the seventeen research firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $276.86.

NUE has been the subject of several research reports. Wall Street Zen upgraded shares of Nucor from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, October 20th. Zacks Research raised shares of Nucor from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 13th. Weiss Ratings upgraded shares of Nucor from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 15th. Citigroup reissued a "buy" rating on shares of Nucor in a research report on Wednesday, July 29th. Finally, UBS Group raised their price target on shares of Nucor from $224.00 to $256.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Thomas Batterbee sold 4,000 shares of the 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 completion of the transaction, the executive vice president directly owned 16,138 shares of the company's stock, valued at approximately $4,212,340.76. This 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 this link. Also, COO Stephen Laxton sold 3,968 shares of the business's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares in the company, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nucor

Large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its holdings in 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. California Public Employees Retirement System boosted its stake in 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 purchasing an additional 82,668 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Nucor in the 2nd quarter worth about $7,954,000. BIP Wealth LLC bought a new position in Nucor in the 2nd quarter worth about $852,000. Finally, Bank of New York Mellon Corp grew its holdings in Nucor by 1.7% during the 1st 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 buying an additional 29,476 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Stock Up 0.1%

Shares of NYSE:NUE opened at $258.23 on Friday. Nucor has a 1 year low of $138.34 and a 1 year high of $280.11. The company has a market capitalization of $58.59 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 0.64 and a beta of 1.84. The business has a fifty day moving average price of $252.58 and a two-hundred day moving average price of $241.17. 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 (NYSE:NUE - Get Free Report) last released its earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping analysts' consensus estimates of $4.46 by $0.38. The company had revenue of $10.40 billion for the quarter, compared to analysts' expectations of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%. The business's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.60 EPS. Analysts forecast that Nucor will post 19.62 earnings per share for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th will be paid a $0.56 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $2.24 annualized dividend and a yield of 0.9%. Nucor's dividend payout ratio is presently 17.86%.

About Nucor

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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