Nucor Corporation [NYSE: NUE] stock went on an upward path that rose over 1.25% on Wednesday, amounting to a one-week price decrease of less than -6.06%. The company report on April 22, 2022 that Nucor and the University of Kentucky Receive Federal Grant for Carbon Capture R&D at Gallatin Mill.
Nucor Corporation (NYSE:NUE) is partnering with the University of Kentucky (UK) Research Foundation to test an innovative carbon dioxide (CO2) capture system at Nucor Steel Gallatin. This is one of 12 research projects being funded by a Department of Energy grant to advance point-source carbon capture and storage technologies that can capture CO2 emissions generated from natural gas power plants and industrial facilities which produce commodities like cement and steel.
Industry/university partnerships like the one between Nucor and UK are not new but are vital for piloting and successfully implementing new technology. More than 50 industry and university experts are working together to tackle the difficult challenge of applying carbon capture and sequestration techniques to an electric arc furnace steel making process. Once this pilot is complete Nucor and UK will have a better understanding of the costs and effectiveness of carbon capture technology for flue gas with low CO2 content and the feasibility of replication of this technology at other electric arc furnace steel mills.
Over the last 12 months, NUE stock rose by 94.89%. The one-year Nucor Corporation stock forecast points to a potential downside of -8.94. The average equity rating for NUE stock is currently 2.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $44.91 billion, with 280.67 million shares outstanding and 267.55 million shares in the current float. Compared to the average trading volume of 3.45M shares, NUE stock reached a trading volume of 3269028 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $145.94 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 2.70. 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.
Wolfe Research have made an estimate for Nucor Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 11, 2022. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Peer Perform. The new note on the price target was released on November 17, 2021, representing the official price target for Nucor Corporation stock. Previously, the target price had yet another raise from $105 to $120, while Citigroup kept a Neutral rating on NUE stock. On October 06, 2021, analysts decreased their price target for NUE shares from 123 to 108.
The Average True Range (ATR) for Nucor Corporation is set at 7.57, with the Price to Sales ratio for NUE stock in the period of the last 12 months amounting to 1.36. The Price to Book ratio for the last quarter was 3.18, with the Price to Cash per share for the same quarter was set at 9.27. Price to Free Cash Flow for NUE in the course of the last twelve months was 20.99 with Quick ratio for the last quarter at 1.30.
NUE Stock Performance Analysis:
Nucor Corporation [NUE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.06. With this latest performance, NUE shares gained by 3.34% in over the last four-week period, additionally plugging by 42.68% over the last 6 months – not to mention a rise of 94.89% 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 54.63, with the RSI for the last a single of trading hit 49.77, and the three-weeks RSI is set at 57.31 for Nucor Corporation [NUE]. The present Moving Average for the last 50 days of trading for this stock 143.75, while it was recorded at 162.24 for the last single week of trading, and 117.50 for the last 200 days.
Insight into Nucor Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Nucor Corporation [NUE] shares currently have an operating margin of +25.62 and a Gross Margin at +30.30. Nucor Corporation’s Net Margin is presently recorded at +18.63.
Return on Equity for this stock inclined to 54.79, with Return on Assets sitting at 29.58.
Nucor Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 2.50.
NUE Stock EPS
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 37.75%.
Nucor Corporation [NUE] Insider Position Details
There are presently around $33,659 million, or 82.20% of NUE stock, in the hands of institutional investors. The top three institutional holders of NUE stocks are: VANGUARD GROUP INC with ownership of 35,844,909, which is approximately -2.591% of the company’s market cap and around 0.50% of the total institutional ownership; STATE FARM MUTUAL AUTOMOBILE INSURANCE CO, holding 27,241,300 shares of the stock with an approximate value of $4.28 billion in NUE stocks shares; and BLACKROCK INC., currently with $3.52 billion in NUE stock with ownership of nearly -5.271% of the company’s market capitalization.
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 525 institutional holders increased their position in Nucor Corporation [NYSE:NUE] by around 7,163,572 shares. Additionally, 477 investors decreased positions by around 19,214,127 shares, while 149 investors held positions by with 187,973,026 shares. The mentioned changes placed institutional holdings at 214,350,725 shares, according to the latest SEC report filing. NUE stock had 172 new institutional investments in for a total of 1,377,853 shares, while 84 institutional investors sold positions of 1,509,764 shares during the same period.