Nucor (NYSE:NUE) Given New $210.00 Price Target at BNP Paribas Exane

Nucor (NYSE:NUE) had its price objective raised by BNP Paribas Exane from $185.00 to $210.00 in a research report sent to investors on Monday,MarketScreener reports. They currently have an outperform rating on the basic materials company’s stock.

Several other brokerages have also recently weighed in on NUE. Wall Street Zen cut shares of Nucor from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. JPMorgan Chase & Co. lifted their price objective on shares of Nucor from $198.00 to $212.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 14th. Seaport Research Partners lifted their price objective on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. KeyCorp initiated coverage on shares of Nucor in a research note on Wednesday, March 25th. They issued a “sector weight” rating for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research note on Monday, December 29th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.10.

Nucor Stock Performance

Shares of NUE stock opened at $202.12 on Monday. The company has a market capitalization of $46.01 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 0.69 and a beta of 1.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. The company has a 50-day simple moving average of $175.94 and a 200 day simple moving average of $164.69. Nucor has a 52 week low of $105.92 and a 52 week high of $203.05.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the previous year, the firm posted $1.22 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that Nucor will post 12.18 earnings per share for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be given a $0.56 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 annualized dividend and a dividend yield of 1.1%. Nucor’s payout ratio is presently 29.71%.

Nucor declared that its Board of Directors has approved a stock repurchase plan on Friday, February 20th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the basic materials company to purchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, EVP Kenneth Rex Query sold 7,452 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total value of $1,460,741.04. Following the completion of the transaction, the executive vice president directly owned 76,628 shares in the company, valued at approximately $15,020,620.56. The trade was a 8.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel R. Needham sold 3,881 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $178.00, for a total transaction of $690,818.00. Following the completion of the transaction, the executive vice president owned 88,298 shares of the company’s stock, valued at $15,717,044. The trade was a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 26,401 shares of company stock worth $4,936,152. 0.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nucor

Institutional investors have recently added to or reduced their stakes in the stock. Strive Financial Group LLC bought a new position in Nucor during the fourth quarter worth $27,000. Stance Capital LLC acquired a new stake in Nucor during the third quarter worth approximately $25,000. Mcguire Capital Advisors Inc. bought a new stake in Nucor in the fourth quarter worth approximately $32,000. Motiv8 Investments LLC acquired a new position in Nucor in the fourth quarter valued at approximately $32,000. Finally, Reflection Asset Management bought a new position in shares of Nucor during the 4th quarter worth approximately $36,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

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.