Nucor (NYSE: NUE) recently received a number of ratings updates from brokerages and research firms:
- 4/24/2024 – Nucor had its price target lowered by analysts at JPMorgan Chase & Co. from $195.00 to $190.00. They now have a “neutral” rating on the stock.
- 4/24/2024 – Nucor had its price target lowered by analysts at BMO Capital Markets from $210.00 to $200.00. They now have a “market perform” rating on the stock.
- 4/23/2024 – Nucor was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
- 4/16/2024 – Nucor had its price target raised by analysts at JPMorgan Chase & Co. from $180.00 to $195.00. They now have a “neutral” rating on the stock.
- 4/10/2024 – Nucor was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
- 3/13/2024 – Nucor was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
- 3/13/2024 – Nucor was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating. They now have a $240.00 price target on the stock, up previously from $180.00.
- 3/4/2024 – Nucor was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
Nucor Stock Up 0.7 %
NUE traded up $1.25 on Thursday, hitting $169.92. 595,203 shares of the company were exchanged, compared to its average volume of 1,434,396. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. The stock’s fifty day moving average is $189.79 and its 200-day moving average is $174.89. The company has a market cap of $40.78 billion, a PE ratio of 10.00 and a beta of 1.65. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $203.00.
Nucor (NYSE:NUE – Get Free Report) last released its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). The business had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. Nucor’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.45 EPS. Equities research analysts predict that Nucor Co. will post 12.5 EPS for the current fiscal year.
Nucor Announces Dividend
Insider Buying and Selling at Nucor
In other news, EVP Douglas J. Jellison sold 19,506 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the transaction, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the completion of the transaction, the executive vice president now owns 80,902 shares of the company’s stock, valued at $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the transaction, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The disclosure for this sale can be found here. Insiders have sold 32,651 shares of company stock worth $6,283,648 over the last 90 days. Company insiders own 0.46% of the company’s stock.
Hedge Funds Weigh In On Nucor
A number of institutional investors and hedge funds have recently bought and sold shares of NUE. SVB Wealth LLC increased its stake in shares of Nucor by 6.1% in the third quarter. SVB Wealth LLC now owns 3,602 shares of the basic materials company’s stock valued at $563,000 after buying an additional 206 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Nucor by 41.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 306 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 90 shares in the last quarter. Xponance Inc. boosted its position in shares of Nucor by 2.1% during the 3rd quarter. Xponance Inc. now owns 30,385 shares of the basic materials company’s stock valued at $4,751,000 after purchasing an additional 617 shares in the last quarter. Raymond James & Associates boosted its position in shares of Nucor by 7.9% during the 3rd quarter. Raymond James & Associates now owns 182,200 shares of the basic materials company’s stock valued at $28,487,000 after purchasing an additional 13,287 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in shares of Nucor by 26.0% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 7,473 shares of the basic materials company’s stock valued at $1,168,000 after purchasing an additional 1,544 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.
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.
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