Nucor Corporation (NYSE:NUE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Nucor Corporation (NYSE:NUE) has received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $251.6667.

Several research analysts have commented on the company. Morgan Stanley lifted their price target on Nucor from $180.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. Jefferies Financial Group lifted their target price on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Barclays initiated coverage on Nucor in a research note on Thursday, May 21st. They issued an “overweight” rating and a $270.00 target price on the stock. Citigroup lifted their target price on Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $245.00 target price on shares of Nucor in a research note on Thursday, April 30th.

Nucor Trading Down 0.1%

NUE opened at $258.28 on Thursday. The firm has a market cap of $58.82 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 0.68 and a beta of 1.88. Nucor has a 52 week low of $115.66 and a 52 week high of $261.47. The business’s 50 day moving average is $209.87 and its two-hundred day moving average is $183.61. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.82 by $0.41. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. On average, research analysts predict that Nucor will post 14.84 EPS for the current year.

Nucor declared that its Board of Directors has authorized 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 a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Nucor news, insider Michael D. Keller sold 4,554 shares of Nucor stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $225.86, for a total value of $1,028,566.44. Following the transaction, the insider directly owned 16,834 shares in the company, valued at approximately $3,802,127.24. This trade represents a 21.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Allen C. Behr sold 10,096 shares of Nucor stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $226.08, for a total value of $2,282,503.68. Following the completion of the transaction, the executive vice president owned 62,871 shares in the company, valued at $14,213,875.68. This trade represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 71,818 shares of company stock worth $16,234,593. 0.62% of the stock is currently owned by insiders.

Institutional Trading of Nucor

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Nucor by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock valued at $4,633,554,000 after buying an additional 144,038 shares in the last quarter. Morgan Stanley boosted its stake in shares of Nucor by 1.1% in the fourth quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock valued at $628,497,000 after buying an additional 41,728 shares in the last quarter. Norges Bank purchased a new stake in shares of Nucor in the fourth quarter valued at approximately $609,002,000. Capital World Investors boosted its stake in shares of Nucor by 20.1% in the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock valued at $412,081,000 after buying an additional 509,019 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Nucor by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock worth $429,298,000 after purchasing an additional 22,718 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

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.