Nucor (NYSE:NUE) Given New $244.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on Nucor to $244 (from $213) with an "overweight" rating, and analyst upgrades have pushed the consensus target to about $230.
• Nucor posted a strong Q1 beat—EPS $3.23 vs. $2.82 expected and $9.50B revenue vs. $8.89B—and the Board authorized a $4.0 billion share buyback (up to ~9.7% of shares).
• Risks include rising input/energy costs and trade‑policy friction that could compress margins, plus recent insider sales and commentary that the stock's strong results may already be reflected in its valuation.

Nucor (NYSE:NUE - Get Free Report) had its target price increased by analysts at Wells Fargo & Company from $213.00 to $244.00 in a report released on Wednesday,MarketScreener reports. The firm currently has an "overweight" rating on the basic materials company's stock. Wells Fargo & Company's target price indicates a potential upside of 9.65% from the company's current price.

Several other research firms have also weighed in on NUE. The Goldman Sachs Group reiterated a "buy" rating and issued a $240.00 price objective on shares of Nucor in a research note on Wednesday. BMO Capital Markets boosted their price target on Nucor from $196.00 to $235.00 and gave the company an "outperform" rating in a research note on Tuesday. Citigroup reiterated a "buy" rating on shares of Nucor in a research note on Wednesday. Jefferies Financial Group lifted their price objective on Nucor from $225.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday. Finally, UBS Group lowered shares of Nucor from a "buy" rating to a "neutral" rating and upped their target price for the stock from $190.00 to $224.00 in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Nucor has an average rating of "Moderate Buy" and a consensus target price of $230.00.

Nucor Price Performance

Shares of NYSE:NUE traded down $2.58 during midday trading on Wednesday, reaching $222.53. 111,434 shares of the company's stock were exchanged, compared to its average volume of 1,665,957. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. The company's 50 day simple moving average is $179.25 and its two-hundred day simple moving average is $168.01. Nucor has a 12 month low of $106.21 and a 12 month high of $227.48. The firm has a market capitalization of $50.66 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 0.76 and a beta of 1.73.

Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.77%. The business had revenue of $9.50 billion for the quarter, compared to analysts' expectations of $8.89 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The firm's revenue for the quarter was up 21.3% on a year-over-year basis. Equities research analysts expect that Nucor will post 12.18 earnings per share for the current fiscal year.

Nucor declared that its Board of Directors has initiated a stock buyback plan on Friday, February 20th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the basic materials company to buy up to 9.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Transactions at Nucor

In related news, EVP Allen C. Behr sold 7,568 shares of the company's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the transaction, the executive vice president owned 67,711 shares in the company, valued at $12,763,523.50. This represents a 10.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel R. Needham sold 3,881 shares of the stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $178.00, for a total transaction of $690,818.00. Following the sale, the executive vice president directly owned 88,298 shares in the company, valued at approximately $15,717,044. This represents a 4.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 26,401 shares of company stock worth $4,936,152. Insiders own 0.62% of the company's stock.

Hedge Funds Weigh In On Nucor

A number of large investors have recently modified their holdings of the stock. RKL Wealth Management LLC increased its holdings in shares of Nucor by 0.9% in the first quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company's stock valued at $899,000 after purchasing an additional 48 shares in the last quarter. Empirical Asset Management LLC lifted its holdings in Nucor by 2.6% during the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company's stock worth $347,000 after buying an additional 54 shares in the last quarter. Krilogy Financial LLC lifted its holdings in Nucor by 4.1% during the 4th quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company's stock worth $272,000 after buying an additional 61 shares in the last quarter. IHT Wealth Management LLC boosted its position in Nucor by 2.0% in the 4th quarter. IHT Wealth Management LLC now owns 3,306 shares of the basic materials company's stock valued at $539,000 after buying an additional 64 shares during the last quarter. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Nucor by 3.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,011 shares of the basic materials company's stock valued at $328,000 after buying an additional 69 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Nucor

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Q1 beat — Nucor reported $3.23 EPS on $9.50B sales (both above estimates), citing higher volumes and pricing that drove margin recovery. Nucor Reports Results for the First Quarter of 2026
• Positive Sentiment: Operational strength — Management highlighted record steel mill shipments and continued strategic investments (new projects and capacity) that support near‑term volume growth. Q1 2026 Earnings Call Highlights
• Positive Sentiment: Analyst upgrades and targets — Multiple firms raised estimates and price targets (e.g., Jefferies and BMO lifted targets), supporting buy-side momentum. These Analysts Raise Their Forecasts On Nucor
• Positive Sentiment: Momentum flows — Market momentum metrics jumped (Benzinga Edge momentum ~91.7) after a 38% YTD gain and the upbeat quarter, which can attract trend-following and quant buying. Nucor Stock's Momentum Score Surges
• Neutral Sentiment: Industry tailwinds — Reports show long-term demand growth for steel (infrastructure, EVs, data centers), which supports sector fundamentals but is a medium/long-term factor. United Kingdom Steel Industry Report 2026
• Neutral Sentiment: Megatrend-driven thesis — Analysts/commentators point to electrification and data center demand supporting Nucor, but note these are multi-quarter plays rather than immediate catalysts. Electrification And Data Center Megatrends
• Negative Sentiment: Rising input costs & policy risks — Management acknowledged higher energy costs and trade‑policy friction that could compress margins if sustained. Q1 2026 Earnings Call Highlights
• Negative Sentiment: Insider selling and valuation — Public filings and market commentary note material insider sales and views that the strong results are already priced in, leaving limited upside from current multiples. Investors Position Ahead of Earnings; Insider Activity Valuation Commentary

Nucor Company Profile

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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