Seaport Research Partners Forecasts Strong Price Appreciation for Nucor (NYSE:NUE) Stock

Nucor (NYSE:NUE) had its price objective raised by research analysts at Seaport Research Partners from $170.00 to $185.00 in a report issued on Friday,MarketScreener reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Seaport Research Partners’ target price indicates a potential upside of 4.12% from the company’s previous close.

Several other analysts also recently weighed in on NUE. Citigroup lifted their target price on shares of Nucor from $150.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. lifted their price objective on Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Jefferies Financial Group boosted their target price on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. UBS Group cut Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price target for the company. in a report on Wednesday. Finally, BNP Paribas Exane upped their price objective on Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.36.

Nucor Stock Down 1.2%

NUE stock opened at $177.67 on Friday. The stock has a market cap of $40.66 billion, a P/E ratio of 23.56, a PEG ratio of 0.98 and a beta of 1.87. The company has a current ratio of 2.94, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. Nucor has a twelve month low of $97.59 and a twelve month high of $183.32. The company’s 50 day moving average is $166.44 and its two-hundred day moving average is $150.70.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.18). The firm had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. Research analysts expect that Nucor will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Thomas J. Batterbee sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total value of $330,560.00. Following the sale, the executive vice president directly owned 17,952 shares of the company’s stock, valued at approximately $2,967,106.56. This trade represents a 10.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allen C. Behr sold 5,950 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $157.89, for a total transaction of $939,445.50. Following the completion of the sale, the executive vice president directly owned 67,711 shares in the company, valued at $10,690,889.79. This represents a 8.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 14,950 shares of company stock worth $2,319,166. Insiders own 0.46% of the company’s stock.

Institutional Trading of Nucor

A number of institutional investors have recently added to or reduced their stakes in the business. Stance Capital LLC purchased a new position in Nucor in the third quarter valued at about $25,000. IMA Advisory Services Inc. boosted its stake in shares of Nucor by 51.4% during the 2nd quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock valued at $29,000 after buying an additional 75 shares during the last quarter. AXS Investments LLC acquired a new stake in shares of Nucor during the third quarter worth approximately $37,000. Vision Financial Markets LLC increased its stake in shares of Nucor by 281.7% in the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after buying an additional 200 shares during the last quarter. Finally, Ares Financial Consulting LLC bought a new stake in shares of Nucor in the fourth quarter worth $45,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

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.