Nucor Co. (NYSE:NUE) Receives $165.63 Average PT from Analysts

Shares of Nucor Co. (NYSE:NUE) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $163.63.

NUE has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley dropped their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Jefferies Financial Group decreased their target price on shares of Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Finally, UBS Group reiterated a “neutral” rating and issued a $156.00 price target (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th.

Nucor Price Performance

Shares of NYSE:NUE opened at $124.40 on Monday. The firm has a market cap of $29.21 billion, a price-to-earnings ratio of 12.02 and a beta of 1.60. The firm has a fifty day moving average price of $133.52 and a 200 day moving average price of $144.57. Nucor has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the prior year, the firm earned $4.57 EPS. The business’s revenue was down 15.2% on a year-over-year basis. As a group, sell-side analysts expect that Nucor will post 8.19 earnings per share for the current fiscal year.

Nucor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.20 annualized dividend and a yield of 1.77%. This is an increase from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio (DPR) is presently 21.26%.

Insider Activity

In related news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the transaction, the chief financial officer now owns 82,132 shares in the company, valued at $13,923,837.96. The trade was a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the sale, the executive vice president now owns 85,376 shares in the company, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,680 shares of company stock valued at $4,773,724. 0.64% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nucor

Several large investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in shares of Nucor during the third quarter valued at approximately $26,000. Coastline Trust Co purchased a new position in Nucor during the 3rd quarter worth $29,000. Brown Lisle Cummings Inc. bought a new stake in Nucor during the 3rd quarter valued at $30,000. Salomon & Ludwin LLC lifted its holdings in shares of Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after buying an additional 72 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after buying an additional 114 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Company Profile

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.