Nucor (NUE) Stock Reaches Record Peak as Bank of America Ups Target to $290

Nucor (NUE) shares reached a record peak of $265.14, approaching its 52-week maximum of $264.67
The company’s shares have generated a total return of 123.6% over the trailing twelve months
First quarter 2026 earnings per share totaled $3.23, surpassing Wall Street’s $2.82 projection
First quarter sales reached $9.5 billion, exceeding the anticipated $8.88 billion
Bank of America Securities elevated its NUE price objective to $290 from $265, maintaining its Buy recommendation

Shares of Nucor (NUE) climbed to an unprecedented high of $265.14 during Thursday’s trading session, extending the steel producer’s impressive rally. The equity advanced 2.11% during the session and has surged 123.6% over the previous twelve months.

NUE Stock Card
Nucor Corporation, NUE

On June 12, Bank of America Securities increased its price objective on NUE to $290 from its previous $265 target, reaffirming its Buy rating on the equity. This adjustment followed BofA’s revision of second quarter steel pricing projections and updated mark-to-market valuations throughout its North American steel and metal distribution center research universe. Price objectives for companies within this coverage group increased by an average of 9%.

BMO Capital Markets similarly raised its target price earlier in the year, adjusting from $235 to $250, pointing to Nucor’s robust first quarter performance and optimistic commentary from company leadership.

Nucor’s first quarter 2026 financial performance served as the primary catalyst for the recent stock appreciation. The steel manufacturer reported earnings per share of $3.23, comfortably exceeding the Wall Street consensus estimate of $2.82. Quarterly revenue totaled $9.5 billion, beating analysts’ forecast of $8.88 billion.

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Bank of America Raises Expectations Before Q2 Update

The revised price target from Bank of America arrives just days before anticipated second quarter guidance announcements scheduled for next week from both Nucor and competitor Steel Dynamics (STLD). The bank’s updated outlook incorporates enhanced second quarter steel pricing assumptions throughout the industry.

According to InvestingPro data, the stock is currently trading in proximity to its 52-week peak. The platform’s evaluation indicates NUE may be overvalued compared to its Fair Value calculation, although it awards the company a “GOOD” rating for overall financial health.

Nucor maintains a market capitalization of roughly $59.4 billion.

Unbroken Dividend Record Extends

Nucor announced a quarterly cash distribution of $0.56 per share, marking its 213th consecutive quarterly dividend payment. The distribution will be paid on August 11, 2026, to shareholders of record as of June 30, 2026.

This uninterrupted series of quarterly dividends extends back multiple decades and represents a central attraction of the stock for dividend-oriented portfolios.

Shares began trading on June 12 near record territory as the Bank of America research note circulated, providing additional momentum to a rally already supported by strong operational fundamentals.

Second quarter guidance from Nucor is scheduled for release next week, offering investors critical insight into whether the strong first quarter momentum is sustainable into the current period.

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