Nucor Co. (NYSE:NUE) Receives $59.18 Consensus Price Target from Analysts


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Nucor Co. (NYSE:NUE) has received an average rating of “Buy” from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $61.42.

NUE has been the topic of several recent analyst reports. BMO Capital Markets raised their price objective on shares of Nucor from $63.00 to $75.00 and gave the company a “market perform” rating in a research report on Wednesday, March 17th. Zacks Investment Research raised shares of Nucor from a “hold” rating to a “strong-buy” rating and set a $76.00 price objective for the company in a research note on Wednesday, March 10th. The Goldman Sachs Group began coverage on Nucor in a research report on Friday. They issued a “buy” rating and a $86.00 price target for the company. Argus raised Nucor from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Thursday, March 25th. Finally, Credit Suisse Group upgraded Nucor from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $48.00 to $63.00 in a research note on Wednesday, February 3rd.

In other news, EVP Craig A. Feldman sold 29,672 shares of the firm’s stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $62.53, for a total transaction of $1,855,390.16. Following the sale, the executive vice president now owns 109,311 shares of the company’s stock, valued at approximately $6,835,216.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leon J. Topalian sold 47,581 shares of the firm’s stock in a transaction on Friday, March 26th. The shares were sold at an average price of $77.18, for a total transaction of $3,672,301.58. Following the sale, the chief executive officer now owns 159,361 shares in the company, valued at approximately $12,299,481.98. The disclosure for this sale can be found here. Insiders sold a total of 144,640 shares of company stock worth $10,290,639 over the last ninety days. Insiders own 1.39% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of NUE. Lighthouse Financial Advisors Inc. raised its position in shares of Nucor by 0.4% during the 4th quarter. Lighthouse Financial Advisors Inc. now owns 49,630 shares of the basic materials company’s stock worth $2,640,000 after purchasing an additional 199 shares during the last quarter. Raymond James Trust N.A. raised its stake in Nucor by 2.4% in the 4th quarter. Raymond James Trust N.A. now owns 9,082 shares of the basic materials company’s stock valued at $483,000 after purchasing an additional 217 shares during the last quarter. SPC Financial Inc. grew its holdings in shares of Nucor by 3.0% during the fourth quarter. SPC Financial Inc. now owns 8,223 shares of the basic materials company’s stock worth $437,000 after buying an additional 240 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its holdings in Nucor by 5.0% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 5,178 shares of the basic materials company’s stock valued at $275,000 after acquiring an additional 246 shares during the last quarter. Finally, Prestige Wealth Management Group LLC boosted its holdings in shares of Nucor by 11.6% during the 4th quarter. Prestige Wealth Management Group LLC now owns 2,540 shares of the basic materials company’s stock worth $135,000 after purchasing an additional 263 shares during the last quarter. 75.12% of the stock is owned by institutional investors.

Nucor stock traded up $0.13 during mid-day trading on Friday, hitting $80.42. The company’s stock had a trading volume of 11,122 shares, compared to its average volume of 2,895,135. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.78 and a quick ratio of 2.40. The stock has a market cap of $24.02 billion, a price-to-earnings ratio of 56.99, a price-to-earnings-growth ratio of 1.35 and a beta of 1.33. The business has a 50 day moving average price of $68.67 and a 200-day moving average price of $56.20. Nucor has a 12 month low of $34.72 and a 12 month high of $82.76.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Thursday, January 28th. The basic materials company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. Nucor had a net margin of 2.15% and a return on equity of 7.21%. The firm had revenue of $5.26 billion during the quarter, compared to the consensus estimate of $5.45 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts expect that Nucor will post 3.22 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 11th. Investors of record on Wednesday, March 31st will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Tuesday, March 30th. Nucor’s dividend payout ratio (DPR) is 37.59%.

About Nucor

Nucor Corporation manufactures and sells steel and steel products. It operates through 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Analyst Recommendations for Nucor (NYSE:NUE)

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