Nucor Corporation (NYSE:NUE) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate Nucor “Moderate Buy”: Twelve of 16 analysts recommend buying the stock, while four rate it a hold. The average 12-month price target is $273.31.
• Nucor exceeded quarterly expectations: The steelmaker reported quarterly EPS of $4.84 versus the $4.46 consensus estimate, while revenue rose 23% year over year to $10.40 billion.
• Shares remain near their yearly high and the company declared a dividend: Nucor opened at $274.53, close to its 52-week high of $280.11, and announced a quarterly dividend of $0.56 per share, equivalent to a 0.8% yield.

Nucor Corporation (NYSE:NUE - Get Free Report) has earned a consensus rating of "Moderate Buy" from the sixteen brokerages that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $273.3077.

NUE has been the topic of a number of research analyst reports. Morgan Stanley set a $270.00 target price on Nucor in a research report on Wednesday, July 29th. Seaport Research Partners increased their price target on Nucor from $245.00 to $285.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. JPMorgan Chase & Co. raised their price objective on Nucor from $240.00 to $282.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 10th. Zacks Research lowered shares of Nucor from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Finally, CICC Research initiated coverage on shares of Nucor in a research report on Monday, May 25th. They issued an "outperform" rating on the stock.

Insider Activity at Nucor

In other news, EVP John J. Hollatz sold 10,560 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the transaction, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction that occurred 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 $4,212,340.76. The trade was a 19.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,028 shares of company stock valued at $5,355,535 over the last 90 days. Insiders own 0.62% of the company's stock.

Institutional Investors Weigh In On Nucor

Several institutional investors and hedge funds have recently modified their holdings of the company. Stance Capital LLC acquired a new stake in shares of Nucor during the third quarter worth about $25,000. Strive Financial Group LLC purchased a new stake in shares of Nucor during the fourth quarter worth $27,000. Bell Investment Advisors Inc acquired a new stake in shares of Nucor in the second quarter valued at $28,000. Motiv8 Investments LLC purchased a new position in Nucor in the fourth quarter valued at $32,000. Finally, Bartlett & CO. Wealth Management LLC grew its stake in Nucor by 49.2% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock worth $32,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Stock Up 0.7%

Shares of NYSE NUE opened at $274.53 on Tuesday. The company has a 50 day simple moving average of $246.13 and a 200-day simple moving average of $211.77. The company has a market capitalization of $62.52 billion, a P/E ratio of 21.89, a P/E/G ratio of 0.60 and a beta of 1.89. 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 1 year low of $131.32 and a 1 year high of $280.11.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating analysts' consensus estimates of $4.46 by $0.38. The firm 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 firm's quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.60 earnings per share. On average, equities research analysts predict that Nucor will post 18.02 earnings per share for the current year.

Nucor Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor's payout ratio is 17.86%.

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.

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