Recent Investment Analysts’ Ratings Updates for Nucor (NUE)

Nucor (NYSE: NUE) recently received a number of ratings updates from brokerages and research firms:

• 4/24/2024 – Nucor had its price target lowered by analysts at JPMorgan Chase & Co. from $195.00 to $190.00. They now have a “neutral” rating on the stock.
• 4/24/2024 – Nucor had its price target lowered by analysts at BMO Capital Markets from $210.00 to $200.00. They now have a “market perform” rating on the stock.
• 4/23/2024 – Nucor was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 4/16/2024 – Nucor had its price target raised by analysts at JPMorgan Chase & Co. from $180.00 to $195.00. They now have a “neutral” rating on the stock.
• 4/10/2024 – Nucor was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 3/13/2024 – Nucor was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 3/13/2024 – Nucor was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating. They now have a $240.00 price target on the stock, up previously from $180.00.
• 3/4/2024 – Nucor was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Nucor Stock Up 0.7 %

NUE traded up $1.25 on Thursday, hitting $169.92. 595,203 shares of the company were exchanged, compared to its average volume of 1,434,396. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. The stock’s fifty day moving average is $189.79 and its 200-day moving average is $174.89. The company has a market cap of $40.78 billion, a PE ratio of 10.00 and a beta of 1.65. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). The business had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. Nucor’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.45 EPS. Equities research analysts predict that Nucor Co. will post 12.5 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.27%. Nucor’s dividend payout ratio is 12.71%.

Insider Buying and Selling at Nucor

In other news, EVP Douglas J. Jellison sold 19,506 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the transaction, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the completion of the transaction, the executive vice president now owns 80,902 shares of the company’s stock, valued at $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the transaction, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The disclosure for this sale can be found here. Insiders have sold 32,651 shares of company stock worth $6,283,648 over the last 90 days. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Nucor

A number of institutional investors and hedge funds have recently bought and sold shares of NUE. SVB Wealth LLC increased its stake in shares of Nucor by 6.1% in the third quarter. SVB Wealth LLC now owns 3,602 shares of the basic materials company’s stock valued at $563,000 after buying an additional 206 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Nucor by 41.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 306 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 90 shares in the last quarter. Xponance Inc. boosted its position in shares of Nucor by 2.1% during the 3rd quarter. Xponance Inc. now owns 30,385 shares of the basic materials company’s stock valued at $4,751,000 after purchasing an additional 617 shares in the last quarter. Raymond James & Associates boosted its position in shares of Nucor by 7.9% during the 3rd quarter. Raymond James & Associates now owns 182,200 shares of the basic materials company’s stock valued at $28,487,000 after purchasing an additional 13,287 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in shares of Nucor by 26.0% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 7,473 shares of the basic materials company’s stock valued at $1,168,000 after purchasing an additional 1,544 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.