Nucor Co. (NUE) Receives $71.04 Average Target Price from Analysts

Nucor Co. (NYSE:NUE) has received an average recommendation of “Buy” from the seventeen research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $70.88.

NUE has been the subject of a number of research analyst reports. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research cut shares of Nucor from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Jefferies Group reiterated a “buy” rating and issued a $76.00 target price on shares of Nucor in a research note on Wednesday, January 31st. Bank of America set a $75.00 target price on shares of Nucor and gave the company a “buy” rating in a research note on Monday, January 8th. Finally, BMO Capital Markets lifted their target price on shares of Nucor to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, January 31st. They noted that the move was a valuation call.

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In related news, EVP Robert J. Stratman sold 39,037 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $63.88, for a total value of $2,493,683.56. Following the completion of the transaction, the executive vice president now owns 233,824 shares in the company, valued at approximately $14,936,677.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John J. Ferriola sold 14,313 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $64.12, for a total transaction of $917,749.56. Following the completion of the transaction, the chairman now owns 333,775 shares of the company’s stock, valued at approximately $21,401,653. The disclosure for this sale can be found here. Insiders sold a total of 95,387 shares of company stock valued at $6,285,411 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of NUE. Flippin Bruce & Porter Inc. grew its holdings in Nucor by 1,802.0% during the 3rd quarter. Flippin Bruce & Porter Inc. now owns 82,298 shares of the basic materials company’s stock worth $4,612,000 after acquiring an additional 77,971 shares during the period. CI Investments Inc. acquired a new stake in Nucor during the 3rd quarter worth $55,250,000. Main Street Research LLC grew its holdings in Nucor by 1.9% during the 4th quarter. Main Street Research LLC now owns 200,752 shares of the basic materials company’s stock worth $12,764,000 after acquiring an additional 3,730 shares during the period. Rhumbline Advisers grew its holdings in Nucor by 1.4% during the 3rd quarter. Rhumbline Advisers now owns 559,037 shares of the basic materials company’s stock worth $31,328,000 after acquiring an additional 7,570 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Nucor by 8.7% during the 3rd quarter. Van ECK Associates Corp now owns 137,909 shares of the basic materials company’s stock worth $7,728,000 after acquiring an additional 11,093 shares during the period. Hedge funds and other institutional investors own 80.16% of the company’s stock.

Shares of Nucor (NYSE NUE) traded up $0.18 on Friday, reaching $66.18. 1,571,949 shares of the company’s stock were exchanged, compared to its average volume of 3,058,628. The company has a market capitalization of $21,040.00, a PE ratio of 18.64, a price-to-earnings-growth ratio of 1.14 and a beta of 1.51. The company has a current ratio of 2.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Nucor has a 1 year low of $51.67 and a 1 year high of $70.48.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.10. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. analysts expect that Nucor will post 4.92 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Thursday, March 29th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.30%. The ex-dividend date is Wednesday, March 28th. Nucor’s dividend payout ratio (DPR) is presently 42.82%.

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About Nucor

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

Analyst Recommendations for Nucor (NYSE:NUE)

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