Nucor (NYSE:NUE) Rating Increased to Overweight at Wells Fargo & Company

by · The Cerbat Gem

Wells Fargo & Company upgraded shares of Nucor (NYSE:NUE – Free Report) from an equal weight rating to an overweight rating in a research note published on Friday, Marketbeat reports. They currently have $167.00 price target on the basic materials company’s stock, up from their prior price target of $147.00.

Several other research firms have also weighed in on NUE. BMO Capital Markets reissued an “outperform” rating on shares of Nucor in a research report on Wednesday, October 29th. Bank of America increased their price target on Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, September 15th. JPMorgan Chase & Co. lifted their price objective on shares of Nucor from $172.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Morgan Stanley increased their target price on shares of Nucor from $152.00 to $165.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, The Goldman Sachs Group dropped their price objective on shares of Nucor from $182.00 to $173.00 and set a “buy” rating on the stock in a report on Monday, September 22nd. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.20.

Get Our Latest Analysis on NUE

Nucor Trading Up 1.4%

Nucor stock traded up $1.99 during mid-day trading on Friday, hitting $147.80. 1,160,452 shares of the stock were exchanged, compared to its average volume of 2,220,146. The stock has a market capitalization of $33.93 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.14 and a beta of 1.80. Nucor has a 12 month low of $97.59 and a 12 month high of $158.48. The company has a quick ratio of 1.51, a current ratio of 2.77 and a debt-to-equity ratio of 0.30. The firm’s fifty day simple moving average is $140.46 and its two-hundred day simple moving average is $134.57.

Nucor (NYSE:NUE – Get Free Report) last posted its quarterly earnings data on Monday, October 27th. The basic materials company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Nucor had a net margin of 5.18% and a return on equity of 7.80%. The company had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the firm posted $1.49 EPS. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Nucor has set its Q4 2025 guidance at -2.630 EPS. Analysts forecast that Nucor will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 30th. Nucor’s dividend payout ratio is presently 30.90%.

Insider Transactions at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of Nucor stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $144.90, for a total transaction of $1,449,000.00. Following the transaction, the executive vice president owned 84,080 shares of the company’s stock, valued at $12,183,192. This trade represents a 10.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allen C. Behr sold 9,042 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $151.28, for a total value of $1,367,873.76. Following the completion of the transaction, the executive vice president owned 73,661 shares in the company, valued at $11,143,436.08. The trade was a 10.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 41,333 shares of company stock worth $6,124,349. Company insiders own 0.46% of the company’s stock.

Institutional Trading of Nucor

Large investors have recently added to or reduced their stakes in the stock. IMA Advisory Services Inc. lifted its stake in Nucor by 51.4% in the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 75 shares during the last quarter. Matrix Trust Co raised its stake in shares of Nucor by 53.8% in the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock valued at $31,000 after buying an additional 84 shares during the period. AXS Investments LLC purchased a new position in shares of Nucor during the 3rd quarter valued at $37,000. Vision Financial Markets LLC grew its stake in shares of Nucor by 281.7% during the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 200 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in Nucor in the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

About Nucor

(Get Free Report)

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.

Further Reading