Brokerages Set Nucor Corporation (NYSE:NUE) Target Price at $190.30

Nucor Corporation (NYSE:NUE) has received a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $194.00.

Several research analysts have recently commented on NUE shares. BNP Paribas Exane lifted their price target on Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $180.00 price target (up from $165.00) on shares of Nucor in a report on Friday, January 9th. BMO Capital Markets lifted their price target on Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Jefferies Financial Group lifted their price target on Nucor from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Finally, Seaport Research Partners lifted their price target on Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, January 30th.

Insider Activity at Nucor

In related news, EVP Kenneth Rex Query sold 7,452 shares of the business’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 sale, the executive vice president directly owned 76,628 shares in the company, valued at approximately $15,020,620.56. The trade was a 8.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel R. Needham sold 3,881 shares of the business’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 approximately $15,717,044. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 26,401 shares of company stock worth $4,936,152. Company insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cornerstone Planning LLC purchased a new position in shares of Nucor in the fourth quarter valued at approximately $2,088,000. World Investment Advisors boosted its stake in shares of Nucor by 8.5% in the fourth quarter. World Investment Advisors now owns 15,721 shares of the basic materials company’s stock valued at $2,564,000 after purchasing an additional 1,238 shares during the period. Larry Mathis Financial Planning LLC purchased a new position in shares of Nucor in the fourth quarter valued at approximately $256,000. Corient Private Wealth LLC boosted its stake in shares of Nucor by 17.5% in the fourth quarter. Corient Private Wealth LLC now owns 63,832 shares of the basic materials company’s stock valued at $10,417,000 after purchasing an additional 9,512 shares during the period. Finally, Union Savings Bank purchased a new position in shares of Nucor in the fourth quarter valued at approximately $162,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 0.2%

Shares of NUE opened at $190.03 on Wednesday. Nucor has a 52-week low of $105.92 and a 52-week high of $196.90. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average is $175.60 and its two-hundred day moving average is $163.04. The stock has a market cap of $43.26 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 0.68 and a beta of 1.73.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the prior year, the firm earned $1.22 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. Research analysts forecast that Nucor will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, March 31st. Nucor’s payout ratio is 29.71%.

Nucor announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to purchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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.