Nucor (NYSE:NUE) Stock Rating Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Nucor (NYSE:NUE) from a strong-buy rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

Other research analysts also recently issued reports about the company. KeyCorp decreased their price objective on Nucor from $288.00 to $286.00 and set an “overweight” rating for the company in a report on Monday, October 5th. Citigroup reaffirmed a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. UBS Group boosted their price objective on shares of Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. BMO Capital Markets increased their target price on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Nucor from $296.00 to $304.00 and gave the company an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $284.00.

Nucor Trading Down 0.7%

Shares of NYSE:NUE opened at $273.47 on Friday. The firm has a market cap of $62.04 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.67 and a beta of 1.84. Nucor has a 12 month low of $140.93 and a 12 month high of $280.11. The company’s fifty day simple moving average is $253.79 and its 200 day simple moving average is $223.43. The company has a quick ratio of 1.36, a current ratio of 2.46 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last announced its earnings results on Monday, October 26th. The basic materials company reported $5.80 earnings per share for the quarter, missing analysts’ consensus estimates of $5.84 by ($0.04). Nucor had a return on equity of 15.53% and a net margin of 9.26%. The company had revenue of $11.25 billion during the quarter, compared to analyst estimates of $10.84 billion. During the same period in the previous year, the company posted $2.63 earnings per share. Nucor’s revenue for the quarter was up 32.0% on a year-over-year basis. As a group, research analysts forecast that Nucor will post 19.61 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. Nucor’s payout ratio is 14.26%.

Insider Buying and Selling

In other news, EVP Noah Hanners sold 5,190 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $275.03, for a total value of $1,427,405.70. Following the completion of the sale, the executive vice president owned 44,073 shares of the company’s stock, valued at approximately $12,121,397.19. This represents a 10.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas Batterbee sold 4,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Nucor during the 2nd quarter worth approximately $4,452,563,000. Bank of America Corp DE acquired a new stake in shares of Nucor during the 2nd quarter worth approximately $462,886,000. Berkshire Hathaway Inc acquired a new stake in shares of Nucor during the 2nd quarter worth approximately $413,814,000. Bank of New York Mellon Corp bought a new position in Nucor in the second quarter valued at approximately $330,902,000. Finally, Legal & General Group Plc bought a new position in Nucor in the second quarter valued at approximately $324,154,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Nucor

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Freedom Broker upgraded Nucor from “hold” to “strong buy,” adding to bullish sentiment. Barclays and JPMorgan also forecast significant price appreciation for the shares. Freedom Broker stock recommendations
• Positive Sentiment: Investor attention remains focused on Nucor’s potential exposure to artificial-intelligence infrastructure and broader construction demand, which could support steel volumes and earnings as data-center and infrastructure investment expands. Why Nucor could be an overlooked AI infrastructure winner
• Positive Sentiment: Nucor’s latest quarter showed strong underlying demand: revenue increased 32% year over year to $11.25 billion, exceeding estimates, while earnings per share more than doubled from the prior-year period. The company also declared its regular $0.56 quarterly dividend. Nucor financial information
• Neutral Sentiment: Analyst opinion remains broadly constructive, with a “Moderate Buy” consensus and an average price target of $284, although that target offers limited upside from recent trading levels. Wells Fargo raised its target to $305, while other firms have reduced targets or maintained more cautious ratings. Nucor and Steel Dynamics steel outlook
• Negative Sentiment: Wall Street Zen lowered its rating on Nucor, creating a counterweight to the Freedom Broker upgrade and highlighting uncertainty after the stock’s substantial rally.
• Negative Sentiment: Executive Vice President Noah Hanners sold 5,190 shares worth approximately $1.43 million, reducing his direct ownership by 10.54%. While such sales may be scheduled or personal, insider selling can weigh on sentiment.
• Negative Sentiment: Nucor narrowly missed quarterly EPS expectations, reporting $5.80 versus the $5.84 consensus. Meanwhile, broader markets have been unsettled by the Federal Reserve’s lack of forward guidance and concerns about whether heavy AI investment can be sustained.

Nucor Company Profile

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.