Nucor Corporation (NYSE: NUE) is 12.56% higher on its value in year-to-date trading and has touched a low of $27.52 and a high of $58.53 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NUE stock was last observed hovering at around $58.04 in the last trading session, with the day’s gains setting it 1.83% off its average median price target of $60.00 for the next 12 months. It is also 4.97% off the consensus price target high of $63.00 offered by 12 analysts, but current levels are -22.18% lower than the price target low of $49.00 for the same period.
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Currently trading at $59.87, the stock is 11.69% and 9.85% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.75 million and changing 3.15% at the moment leaves the stock 25.18% off its SMA200. NUE registered 23.27% gain for a year compared to 6-month gain of 31.15%. The firm has a 50-day simple moving average (SMA 50) of $54.48 and a 200-day simple moving average (SMA200) of $50.75.
The stock witnessed a 10.01% loss in the last 1 month and extending the period to 3 months gives it a 13.13%, and is 6.27% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.11% over the week and 3.18% over the month.
Nucor Corporation (NUE) has around 26800 employees, a market worth around $17.60B and $20.71B in sales. Current P/E ratio is 71.19 and Fwd P/E is 17.71. Profit margin for the company is 1.20%. Distance from 52-week low is 117.51% and 2.29% from its 52-week high. The company has generated returns on investments over the last 12 months (10.10%).
Nucor Corporation (NUE) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Nucor Corporation (NUE) is a “Hold”. 12 analysts offering their recommendations for the stock have an average rating of 2.70, where 8 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Nucor Corporation is expected to release its quarterly report on 04/22/2021 and quarterly earnings per share for the current quarter are estimated at $2.23 with sales reaching $7.04B over the same period.The EPS is expected to shrink by -44.40% this year, but quarterly earnings will post 25.40% year-over-year. Quarterly sales are estimated to grow 25.20% in year-over-year returns.
Nucor Corporation (NUE) Top Institutional Holders
956 institutions hold shares in Nucor Corporation (NUE), with 2.08M shares held by insiders accounting for 0.69% while institutional investors hold 79.11% of the company’s shares. The shares outstanding are 303.39M, and float is at 299.63M with Short Float at 1.21%. Institutions hold 78.57% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 35.46 million shares valued at $1.59 billion. The investor’s holdings represent 11.75% of the NUE Shares outstanding. As of Sep 29, 2020, the second largest holder is State Farm Mutual Automobile Insurance Co with 28.21 million shares valued at $1.27 billion to account for 9.34% of the shares outstanding. The other top investors are Blackrock Inc. which holds 21.03 million shares representing 6.96% and valued at over $1.12 billion, while State Street Corporation holds 6.36% of the shares totaling 19.2 million with a market value of $861.27 million.
Nucor Corporation (NUE) Insider Activity
A total of 6 insider transactions have happened at Nucor Corporation (NUE) in the last six months, with sales accounting for 6 and purchases happening 0 times. The most recent transaction is an insider sale by Topalian Leon J, the company’s President and CEO. SEC filings show that Topalian Leon J sold 10,000 shares of the company’s common stock on Dec 21 at a price of $53.88 per share for a total of $0.54 million. Following the sale, the insider now owns 0.1 million shares.
Nucor Corporation disclosed in a document filed with the SEC on Nov 10 that Utermark D. Chad (Executive Vice President) sold a total of 11,570 shares of the company’s common stock. The trade occurred on Nov 10 and was made at $51.70 per share for $0.6 million. Following the transaction, the insider now directly holds 0.16 million shares of the NUE stock.
Still, SEC filings show that on Nov 02, SLATE MARYEMILY (Executive Vice President) disposed off 2,149 shares at an average price of $48.82 for $0.1 million. The insider now directly holds 56,571 shares of Nucor Corporation (NUE).
Nucor Corporation (NUE): Who are the competitors?
The company’s main competitors (and peers) include United States Steel Corporation (X) that is trading 100.11% up over the past 12 months. Steel Dynamics Inc. (STLD) is 41.60% up on the 1-year trading charts. Short interest in the company’s stock has fallen -7.48% from the last report on Dec 30, 2020 to stand at a total of 3.88 million short shares sold with a short interest ratio of 1.6.