Nucor (NYSE:NUE) Reaches New 52-Week High - Should You Buy?

Key Points

• Shares of Nucor hit a new 52‑week high of $197.13 on Friday, trading around $196.71 on volume of about 636,730 shares.
• Several analysts raised price targets (Jefferies to $225, JPMorgan to $212, Wells to $213), leaving a consensus rating of Moderate Buy with an average price target of $195.60.
• The board authorized a $4.0 billion share buyback (≈9.7% of shares) and declared a $0.56 quarterly dividend (1.1% yield), even as Nucor missed the quarter’s EPS estimate ($1.73 vs. $1.91) while reporting 8.6% year‑over‑year revenue growth.

Shares of Nucor Corporation (NYSE:NUE - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $197.13 and last traded at $196.7050, with a volume of 636730 shares. The stock had previously closed at $191.85.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Nucor from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, April 10th. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $198.00 to $212.00 and gave the stock an "overweight" rating in a report on Tuesday. Wells Fargo & Company boosted their target price on shares of Nucor from $197.00 to $213.00 and gave the stock an "overweight" rating in a report on Wednesday. Morgan Stanley restated an "equal weight" rating and issued a $180.00 price target (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. Finally, UBS Group upgraded shares of Nucor from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $184.00 to $190.00 in a research report on Thursday, March 26th. Nine research analysts have rated the stock with a Buy rating and three have assigned 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 $195.60.

Nucor Trading Up 2.0%

The stock's fifty day moving average price is $175.70 and its 200 day moving average price is $163.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. The stock has a market capitalization of $44.54 billion, a P/E ratio of 25.95, a PEG ratio of 0.69 and a beta of 1.73.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing analysts' consensus estimates of $1.91 by ($0.18). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The company's revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be paid a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.1%. Nucor's dividend payout ratio is 29.71%.

Nucor announced that its board has authorized a share buyback program on Friday, February 20th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Kenneth Rex Query sold 7,452 shares of the company's stock in a transaction dated 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 sale, the executive vice president directly owned 76,628 shares of the company's stock, valued at $15,020,620.56. This represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel R. Needham sold 3,881 shares of the firm's stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $178.00, for a total transaction of $690,818.00. Following the completion of the sale, the executive vice president owned 88,298 shares in the company, valued at $15,717,044. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,401 shares of company stock valued at $4,936,152 over the last three months. 0.62% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nucor

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Empirical Asset Management LLC raised its position in shares of Nucor by 2.6% in the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company's stock valued at $347,000 after purchasing an additional 54 shares during the last quarter. Krilogy Financial LLC grew its stake in shares of 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 purchasing an additional 61 shares during the period. IHT Wealth Management LLC grew its stake in shares of Nucor by 2.0% during the 4th quarter. IHT Wealth Management LLC now owns 3,306 shares of the basic materials company's stock worth $539,000 after purchasing an additional 64 shares during the period. Rosenberg Matthew Hamilton grew its stake in shares of Nucor by 3.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 2,011 shares of the basic materials company's stock worth $328,000 after purchasing an additional 69 shares during the period. Finally, Whittier Trust Co. lifted its position in shares of Nucor by 5.6% during the 3rd quarter. Whittier Trust Co. now owns 1,330 shares of the basic materials company's stock valued at $184,000 after buying an additional 70 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

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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