Brokerages Set Nucor Corporation (NYSE:NUE) PT at $266.31

Nucor Corporation (NYSE:NUE) has earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $266.3077.

Several equities research analysts have recently commented on NUE shares. CICC Research assumed coverage on Nucor in a research note on Monday, May 25th. They issued an “outperform” rating for the company. KeyCorp upgraded Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price objective for the company in a research report on Wednesday, June 24th. JPMorgan Chase & Co. boosted their price objective on Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Morgan Stanley upped their target price on shares of Nucor from $227.00 to $258.00 and gave the company an “equal weight” rating in a research report on Monday, June 22nd. Finally, Zacks Research lowered shares of Nucor from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th.

Insider Buying and Selling at Nucor

In related news, EVP Randy J. Spicer sold 2,500 shares of Nucor stock in a transaction on Monday, May 18th. The stock was sold at an average price of $225.00, for a total transaction of $562,500.00. Following the completion of the sale, the executive vice president directly owned 20,510 shares of the company’s stock, valued at $4,614,750. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael D. Keller sold 4,554 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $225.86, for a total value of $1,028,566.44. Following the completion of the transaction, the insider directly owned 16,834 shares in the company, valued at $3,802,127.24. The trade was a 21.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 82,378 shares of company stock valued at $18,963,930 over the last quarter. 0.62% of the stock is owned by corporate insiders.

Institutional Trading of Nucor

A number of hedge funds have recently modified their holdings of the company. Regent Peak Wealth Advisors LLC acquired a new stake in Nucor in the second quarter worth $206,000. Tema ETFs LLC grew its holdings in shares of Nucor by 8.9% in the 2nd quarter. Tema ETFs LLC now owns 7,091 shares of the basic materials company’s stock valued at $1,580,000 after buying an additional 580 shares during the period. Fruth Investment Management acquired a new position in shares of Nucor in the 2nd quarter valued at $256,000. Generali Investments Management Co LLC increased its position in shares of Nucor by 38.1% in the 2nd quarter. Generali Investments Management Co LLC now owns 1,789 shares of the basic materials company’s stock valued at $398,000 after buying an additional 494 shares in the last quarter. Finally, Community Financial Services Group LLC bought a new stake in shares of Nucor in the 2nd quarter valued at $296,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Price Performance

NUE opened at $236.77 on Friday. Nucor has a one year low of $131.32 and a one year high of $270.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. The company’s 50 day simple moving average is $239.20 and its 200-day simple moving average is $201.90. The stock has a market capitalization of $53.92 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 0.54 and a beta of 1.91.

Nucor (NYSE:NUE) last issued its quarterly 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 10.68%. The business had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. During the same quarter last year, the business posted $0.77 earnings per share. Nucor’s revenue for the quarter was up 21.3% compared to the same quarter last year. Sell-side analysts anticipate that Nucor will post 17.68 earnings per share for the current fiscal year.

Nucor Dividend Announcement

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 given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is currently 22.18%.

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.