Nucor Corporation (NYSE:NUE) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Nucor Corporation (NYSE:NUE) have earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $266.3077.

A number of equities research analysts recently commented on NUE shares. Jefferies Financial Group increased their price target on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Zacks Research lowered shares of Nucor from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Citigroup reiterated a “positive” rating on shares of Nucor in a report on Wednesday. The Goldman Sachs Group raised their price target on shares of Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Finally, BNP Paribas Exane boosted their price target on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a report on Monday, May 4th.

Nucor Stock Performance

Shares of NUE opened at $235.73 on Friday. The firm has a market capitalization of $53.68 billion, a P/E ratio of 23.34, a P/E/G ratio of 0.54 and a beta of 1.91. Nucor has a 52 week low of $131.32 and a 52 week high of $270.90. The stock has a 50 day moving average price of $239.02 and a two-hundred day moving average price of $201.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90.

Nucor (NYSE:NUE) last posted its 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. 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 company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter last year, the company earned $0.77 earnings per share. Equities analysts forecast that Nucor will post 17.68 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. Nucor’s dividend payout ratio (DPR) is currently 22.18%.

Insider Transactions at Nucor

In other news, EVP David A. Sumoski sold 33,068 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $225.67, for a total value of $7,462,455.56. Following the completion of the transaction, the executive vice president directly owned 243,339 shares of the company’s stock, valued at $54,914,312.13. This represents a 11.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the transaction, the executive vice president directly owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Stance Capital LLC bought a new stake in shares of Nucor during the 3rd quarter worth $25,000. Strive Financial Group LLC purchased a new position in shares of Nucor in the 4th quarter worth about $27,000. Motiv8 Investments LLC bought a new position in Nucor during the fourth quarter valued at about $32,000. Bartlett & CO. Wealth Management LLC grew its position in Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock valued at $32,000 after buying an additional 63 shares during the period. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Nucor during the fourth quarter worth about $32,000. Institutional investors own 76.48% of the company’s stock.

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.