Nucor (NYSE:NUE) Price Target Raised to $308.00

Nucor (NYSE:NUE) had its price objective raised by research analysts at JPMorgan Chase & Co. from $294.00 to $308.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 19.44% from the company’s previous close.

A number of other analysts also recently issued reports on NUE. Morgan Stanley set a $270.00 price objective on Nucor in a research report on Wednesday, July 29th. Barclays increased their target price on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group boosted their target price on Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Seaport Research Partners upped their price target on Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, Argus raised their price target on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $274.38.

Nucor Trading Up 0.6%

Shares of NYSE NUE traded up $1.47 during midday trading on Wednesday, reaching $257.87. 483,404 shares of the stock were exchanged, compared to its average volume of 1,588,912. The company has a 50 day simple moving average of $249.48 and a 200 day simple moving average of $222.65. The stock has a market capitalization of $58.51 billion, a P/E ratio of 20.56, a PEG ratio of 0.97 and a beta of 1.87. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. Nucor has a twelve month low of $131.32 and a twelve month high of $280.11.

Nucor (NYSE:NUE) 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. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The firm had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same period in the prior year, the firm posted $2.60 earnings per share. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. As a group, equities analysts expect that Nucor will post 17.95 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Stephen D. Laxton sold 3,968 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the sale, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the sale, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. The trade was a 19.86% 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 owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NUE. Integrated Wealth Concepts LLC increased its stake in shares of Nucor by 21.1% during the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after buying an additional 568 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Nucor during the 1st quarter worth approximately $259,000. Geneos Wealth Management Inc. increased its position in shares of Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 153 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Nucor in the 2nd quarter valued at approximately $390,000. Finally, Cerity Partners LLC raised its holdings in shares of Nucor by 51.9% in the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after purchasing an additional 13,877 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor News Roundup

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Nucor remains among the steel stocks expected to navigate industry challenges. Zacks identified NUE, along with ArcelorMittal, Steel Dynamics and Foster, as comparatively well positioned despite sluggish conditions in China and muted demand in some key end markets. 4 Steel Producer Stocks to Watch Amid Industry Challenges
• Neutral Sentiment: The latest session’s strength contrasts with recent weakness. Nucor recently closed at $256.40 after declining 1.79% and underperformed some competitors, but the stock has since recovered. The reports provide performance context rather than a new fundamental catalyst. Nucor Declines More Than Market
• Negative Sentiment: Zacks Research reduced all of its cited 2027 EPS estimates for Nucor. Forecasts were lowered to $4.95 for the first quarter, $5.16 for the second quarter, $5.23 for the third quarter, and $3.50 for the fourth quarter. Full-year 2027 EPS was cut to $18.83 from $19.15. Zacks maintains a “Hold” rating, suggesting limited near-term conviction.
• Negative Sentiment: Demand concerns remain a risk to steel prices and Nucor’s earnings. Weakness in China and softness across important end markets could pressure shipment volumes, pricing and margins, even though Nucor is viewed as relatively well positioned within the industry.

Nucor Company Profile

Nucor Corporation is a Charlotte, North Carolina-based steel and steel products company. It manufactures carbon, alloy and stainless steel products, including sheet, plate, bar, structural steel, rail, wire rod, rebar and merchant bar. The company also produces steel joists, deck, beams, piling, wire products, fasteners, grating, metal building systems and other fabricated steel products.

Nucor operates an integrated network of electric arc furnace steel mills, recycling facilities and downstream manufacturing operations.