UBS Group Increases Nucor (NYSE:NUE) Price Target to $256.00

Nucor (NYSE:NUE) had its price target upped by stock analysts at UBS Group from $224.00 to $256.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. UBS Group’s target price would suggest a potential downside of 3.20% from the company’s previous close.

Several other equities analysts have also recently commented on NUE. KeyCorp raised shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 target price on the stock in a research note on Wednesday, June 24th. Zacks Research lowered Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Argus upped their price target on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a report on Friday, May 15th. BMO Capital Markets raised their price objective on shares of Nucor from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Finally, Bank of America cut their target price on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $268.77.

Nucor Stock Up 6.7%

NYSE:NUE traded up $16.61 during mid-day trading on Tuesday, reaching $264.47. The stock had a trading volume of 1,677,640 shares, compared to its average volume of 1,622,200. Nucor has a 1-year low of $131.32 and a 1-year high of $270.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. The company has a market capitalization of $60.23 billion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 0.57 and a beta of 1.91. The stock’s 50 day simple moving average is $240.33 and its two-hundred day simple moving average is $204.98.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the prior year, the business earned $2.60 EPS. The firm’s revenue was up 23.0% on a year-over-year basis. Equities analysts anticipate that Nucor will post 17.53 EPS for the current year.

Insider Activity at Nucor

In related news, EVP Noah C. Hanners sold 6,472 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the completion of the sale, the executive vice president directly owned 50,377 shares in the company, valued at approximately $11,410,390.50. This trade represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Daniel R. Needham sold 12,888 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the transaction, the executive vice president directly owned 89,724 shares in the company, valued at $20,277,624. The trade was a 12.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 82,378 shares of company stock worth $18,963,930. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Nucor

A number of institutional investors have recently modified their holdings of the stock. Stance Capital LLC acquired a new position in shares of Nucor in the third quarter worth $25,000. Strive Financial Group LLC acquired a new stake in shares of Nucor during the 4th quarter valued at about $27,000. Motiv8 Investments LLC acquired a new position in Nucor in the fourth quarter worth approximately $32,000. Bartlett & CO. Wealth Management LLC raised its position in Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 63 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. bought a new stake in Nucor in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Key Nucor News

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Q2 results exceeded expectations: Adjusted earnings were $4.84 per diluted share, above the $4.46 consensus estimate, while revenue reached $10.40 billion versus expectations of $10.15 billion. Revenue rose 23% year over year, and adjusted earnings nearly doubled from the prior-year quarter. Nucor posts record steel shipments on higher pricing, strong demand
• Positive Sentiment: Pricing and volumes drove the improvement: Nucor reported record steel-mill shipments, with higher average selling prices and stronger demand lifting profitability across its steel mills, raw materials and steel products businesses. Net earnings attributable to shareholders totaled $1.16 billion, compared with $603 million a year earlier. Nucor beats quarterly results on strong pricing, demand
• Positive Sentiment: Management expects further earnings improvement: Nucor forecast higher consolidated reported earnings in the third quarter, suggesting steel demand and pricing momentum may continue. This forward outlook was an additional catalyst for NUE. Nucor’s Q2 Earnings and Revenues Surpass Estimates on Higher Prices
• Positive Sentiment: Shareholder returns remained supportive: Nucor returned approximately $479 million through dividends and share repurchases during the quarter and affirmed its regular cash dividend. The company also repurchased about 1.53 million shares. Nucor could be undervalued on Q2 results and dividend affirmation
• Neutral Sentiment: Analyst estimates edged higher, but ratings remained cautious: Zacks Research made small upward revisions to longer-term quarterly EPS forecasts while maintaining a “Hold” rating, indicating improved expectations without a major change in analyst conviction.

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.