Nucor (NYSE:NUE) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Nucor (NYSE:NUE) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other equities analysts have also recently issued reports on the company. UBS Group cut Nucor from a “buy” rating to a “neutral” rating and set a $183.00 target price for the company. in a report on Wednesday. Jefferies Financial Group increased their price objective on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Wells Fargo & Company boosted their target price on shares of Nucor from $176.00 to $184.00 and gave the company an “overweight” rating in a research note on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Nucor in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $179.36.

Nucor Price Performance

NYSE:NUE opened at $177.67 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.94. The company has a 50-day moving average of $166.44 and a 200-day moving average of $150.70. Nucor has a 52 week low of $97.59 and a 52 week high of $183.32. The company has a market capitalization of $40.66 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 0.98 and a beta of 1.87.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.22 EPS. As a group, equities research analysts anticipate that Nucor will post 7.64 earnings per share for the current fiscal year.

Nucor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.55. Nucor’s dividend payout ratio is 29.71%.

Insiders Place Their Bets

In related news, EVP Allen C. Behr sold 5,950 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $157.89, for a total value of $939,445.50. Following the completion of the transaction, the executive vice president owned 67,711 shares in the company, valued at $10,690,889.79. The trade was a 8.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John J. Hollatz sold 7,000 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $149.88, for a total value of $1,049,160.00. Following the completion of the transaction, the executive vice president owned 96,550 shares in the company, valued at $14,470,914. The trade was a 6.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 14,950 shares of company stock valued at $2,319,166. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Nucor

Several large investors have recently made changes to their positions in the company. Stance Capital LLC bought a new stake in Nucor during the 3rd quarter worth about $25,000. IMA Advisory Services Inc. grew its position in shares of Nucor by 51.4% during the 2nd quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after buying an additional 75 shares during the period. AXS Investments LLC bought a new stake in shares of Nucor during the third quarter worth approximately $37,000. Vision Financial Markets LLC lifted its holdings in Nucor by 281.7% in the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after buying an additional 200 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new position in Nucor in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

About Nucor

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.