Nucor (NYSE:NUE) Rating Increased to Buy at Wall Street Zen

Nucor (NYSE:NUE) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

NUE has been the topic of a number of other research reports. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price target on the stock. in a report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Nucor in a report on Wednesday, October 29th. Wells Fargo & Company upped their price target on Nucor from $176.00 to $184.00 and gave the company an “overweight” rating in a research report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. Finally, The Goldman Sachs Group upped their target price on Nucor from $182.00 to $196.00 and gave the company a “buy” rating in a report on Friday, January 16th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and an average price target of $179.36.

Nucor Stock Performance

NYSE:NUE opened at $177.67 on Friday. The stock’s 50-day moving average is $166.44 and its 200-day moving average is $150.62. Nucor has a 1-year low of $97.59 and a 1-year high of $183.32. The company has a current ratio of 2.94, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The stock has a market cap of $40.66 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 0.98 and a beta of 1.87.

Nucor (NYSE:NUE) last posted its 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 business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts anticipate that Nucor will post 7.64 earnings per share for the current year.

Insider Buying and Selling

In other Nucor news, EVP John J. Hollatz sold 7,000 shares of Nucor stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $149.88, for a total value of $1,049,160.00. Following the completion of the sale, the executive vice president directly owned 96,550 shares in the company, valued at approximately $14,470,914. The trade was a 6.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas J. Batterbee sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $165.28, for a total value of $330,560.00. Following the completion of the transaction, the executive vice president directly owned 17,952 shares in the company, valued at approximately $2,967,106.56. This trade represents a 10.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,950 shares of company stock valued at $2,319,166 over the last 90 days. Company insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System raised its holdings in shares of Nucor by 4.6% during the fourth quarter. New York State Teachers Retirement System now owns 173,032 shares of the basic materials company’s stock valued at $28,223,000 after purchasing an additional 7,547 shares during the period. Laurel Wealth Advisors LLC bought a new stake in Nucor in the 4th quarter valued at about $76,000. Bell & Brown Wealth Advisors LLC bought a new stake in Nucor in the 4th quarter valued at about $207,000. Canandaigua National Bank & Trust Co. raised its stake in Nucor by 9.6% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 2,221 shares of the basic materials company’s stock worth $362,000 after buying an additional 194 shares during the period. Finally, Strategic Blueprint LLC bought a new position in Nucor in the fourth quarter worth approximately $253,000. 76.48% of the stock is owned by 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.