Nucor Corporation [NUE] gain 54.94% so far this year. What now?

Nucor Corporation [NYSE: NUE] gained 1.02% or 0.83 points to close at $82.41 with a heavy trading volume of 3456066 shares. The company report on April 22, 2021 that Nucor Reports Record Quarterly Earnings for the First Quarter of 2021.

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Nucor Corporation (NYSE: NUE) announced record quarterly consolidated net earnings of $942.4 million, or $3.10 per diluted share, for the first quarter of 2021. By comparison, Nucor reported consolidated net earnings of $398.8 million, or $1.30 per diluted share, for the fourth quarter of 2020 and $20.3 million, or $0.07 per diluted share, for the first quarter of 2020.

“The first quarter of 2021 was the most profitable quarter in our Company’s history. We are clearly reaping the rewards from our prior investments and the more strategic approaches we are taking to our key end-use markets,” said Leon Topalian, Nucor’s President and Chief Executive Officer. “It is gratifying to see such strong performance across all of Nucor.”.

It opened the trading session at $82.40, the shares rose to $83.11 and dropped to $80.82, the range by which the price of stock traded the whole day. The daily chart for NUE points out that the company has recorded 70.90% gains over the past six months. However, it is still -130.52% lower than its most recent low trading price.

If we look at the average trading volume of 3.17M shares, NUE reached to a volume of 3456066 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Nucor Corporation [NUE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NUE shares is $73.55 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NUE stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Nucor Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 20, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on April 09, 2021, representing the official price target for Nucor Corporation stock. Previously, the target price had yet another raise to $85, while Argus analysts kept a Buy rating on NUE stock. On February 03, 2021, analysts increased their price target for NUE shares from 48 to 63.

The Average True Range (ATR) for Nucor Corporation is set at 2.60, with the Price to Sales ratio for NUE stock in the period of the last 12 months amounting to 1.17. The Price to Book ratio for the last quarter was 2.32, with the Price to Cash per share for the same quarter was set at 10.44. Price to Free Cash Flow for NUE in the course of the last twelve months was 75.30 with Quick ratio for the last quarter at 2.30.

Trading performance analysis for NUE stock

Nucor Corporation [NUE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.31. With this latest performance, NUE shares gained by 2.51% in over the last four-week period, additionally plugging by 70.90% over the last 6 months – not to mention a rise of 93.91% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NUE stock in for the last two-week period is set at 65.70, with the RSI for the last a single of trading hit 66.20, and the three-weeks RSI is set at 65.98 for Nucor Corporation [NUE]. The present Moving Average for the last 50 days of trading for this stock 72.16, while it was recorded at 80.62 for the last single week of trading, and 55.33 for the last 200 days.

Nucor Corporation [NUE]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Nucor Corporation [NUE] shares currently have an operating margin of +8.19 and a Gross Margin at +11.16. Nucor Corporation’s Net Margin is presently recorded at +3.56.

Return on Total Capital for NUE is now 10.33, given the latest momentum, and Return on Invested Capital for the company is 4.65. Return on Equity for this stock inclined to 6.78, with Return on Assets sitting at 3.73. When it comes to the capital structure of this company, Nucor Corporation [NUE] has a Total Debt to Total Equity ratio set at 50.39. Additionally, NUE Total Debt to Total Capital is recorded at 33.51, with Total Debt to Total Assets ending up at 27.01. Long-Term Debt to Equity for the company is recorded at 49.57, with the Long-Term Debt to Total Capital now at 32.96.

Reflecting on the efficiency of the workforce at the company, Nucor Corporation [NUE] managed to generate an average of $27,163 per employee. Receivables Turnover for the company is 7.81 with a Total Asset Turnover recorded at a value of 1.05.Nucor Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 3.60.

Nucor Corporation [NUE]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Nucor Corporation posted 0.37/share EPS, while the average EPS was predicted by analysts to be reported at 0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 184.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NUE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Nucor Corporation go to 8.22%.

An analysis of insider ownership at Nucor Corporation [NUE]

There are presently around $19,160 million, or 81.40% of NUE stock, in the hands of institutional investors. The top three institutional holders of NUE stocks are: VANGUARD GROUP INC with ownership of 35,179,986, which is approximately -0.8% of the company’s market cap and around 0.50% of the total institutional ownership; STATE FARM MUTUAL AUTOMOBILE INSURANCE CO, holding 28,209,300 shares of the stock with an approximate value of $2.3 billion in NUE stocks shares; and BLACKROCK INC., currently with $1.72 billion in NUE stock with ownership of nearly 0.541% of the company’s market capitalization.

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Positions in Nucor Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 382 institutional holders increased their position in Nucor Corporation [NYSE:NUE] by around 15,103,085 shares. Additionally, 325 investors decreased positions by around 10,309,324 shares, while 130 investors held positions by with 209,444,293 shares. The mentioned changes placed institutional holdings at 234,856,702 shares, according to the latest SEC report filing. NUE stock had 138 new institutional investments in for a total of 1,489,343 shares, while 47 institutional investors sold positions of 1,165,327 shares during the same period.

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