Fintel reports that on December 2, 2024, Goldman Sachs initiated coverage of Nucor (NYSE:NUE) with a Buy recommendation.
Analyst Price Forecast Suggests 13.12% Upside
As of November 21, 2024, the average one-year price target for Nucor is $176.88/share. The forecasts range from a low of $151.50 to a high of $252.00. The average price target represents an increase of 13.12% from its latest reported closing price of $156.37 / share.
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The projected annual revenue for Nucor is 31,009MM, a decrease of 1.13%. The projected annual non-GAAP EPS is 9.73.
What is the Fund Sentiment?
There are 2,063 funds or institutions reporting positions in Nucor. This is an decrease of 31 owner(s) or 1.48% in the last quarter. Average portfolio weight of all funds dedicated to NUE is 0.20%, an increase of 18.15%. Total shares owned by institutions decreased in the last three months by 1.78% to 204,672K shares. 
The put/call ratio of NUE is 0.65, indicating a bullish outlook.
What are Other Shareholders Doing?
State Farm Mutual Automobile Insurance holds 24,562K shares representing 10.46% ownership of the company. In its prior filing, the firm reported owning 24,692K shares , representing a decrease of 0.53%. The firm decreased its portfolio allocation in NUE by 41.63% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,531K shares representing 3.21% ownership of the company. In its prior filing, the firm reported owning 7,573K shares , representing a decrease of 0.57%. The firm decreased its portfolio allocation in NUE by 11.18% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 6,216K shares representing 2.65% ownership of the company. In its prior filing, the firm reported owning 6,153K shares , representing an increase of 1.01%. The firm decreased its portfolio allocation in NUE by 11.59% over the last quarter.
Geode Capital Management holds 5,862K shares representing 2.50% ownership of the company. In its prior filing, the firm reported owning 5,787K shares , representing an increase of 1.27%. The firm decreased its portfolio allocation in NUE by 53.37% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 5,026K shares representing 2.14% ownership of the company. In its prior filing, the firm reported owning 5,136K shares , representing a decrease of 2.20%. The firm decreased its portfolio allocation in NUE by 14.39% over the last quarter.
Nucor Background Information
(This description is provided by the company.)
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.
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