Key Takeaways
- Nucor shares reached a record high of $235.92, delivering 117% returns over 12 months
- First quarter 2026 earnings per share of $3.23 surpassed Wall Street’s $2.82 projection; sales of $9.5B exceeded the $8.88B estimate
- BMO Capital elevated its price objective to $250 while maintaining its Outperform stance
- The company’s board approved a $4 billion stock repurchase program
- Wall Street consensus stands at Moderate Buy with a mean price target of $247.50
Nucor (NUE) shares touched a record peak of $235.92 during Tuesday’s trading session, capping off an extraordinary rally that has delivered 117% gains over the trailing twelve months.
The steel manufacturer’s shares commenced trading at $231.99, representing a dramatic surge from its 52-week floor of $106.21, highlighting the magnitude of the upward trajectory. The stock’s 50-day moving average currently registers at $197.40, while the 200-day moving average stands at $178.40.
The impressive advance follows exceptional first quarter 2026 financial results. Nucor delivered earnings per share of $3.23, exceeding Wall Street’s consensus projection of $2.82 by $0.41.
Top-line performance reached $9.5 billion, surpassing the anticipated $8.88 billion and representing a 21.3% increase compared to the prior year period. During the corresponding quarter last year, the steel producer reported merely $0.77 in earnings per share.
The corporation’s return on equity currently measures 10.68%, accompanied by a net profit margin of 6.82%. Wall Street forecasters now anticipate full-year earnings per share of $14.58.
Wall Street’s Take
BMO Capital elevated its price objective on Nucor shares to $250 from its previous $235 target following the earnings surprise, maintaining its Outperform recommendation. Analyst Katja Jancic highlighted encouraging forward guidance from company leadership.
Barclays launched coverage with an Overweight rating alongside a $270 price objective. CICC Research similarly commenced coverage with an Outperform recommendation.
Morgan Stanley increased its target from $180 to $227, although it maintained an Equal Weight position. UBS took a contrarian approach, downgrading from Buy to Neutral while simultaneously raising its target to $224.
The overall Wall Street consensus reflects a Moderate Buy rating, with a mean price target of $247.50. The recommendation breakdown includes two Strong Buy ratings, ten Buy ratings, and four Hold ratings.
Big Money Moves
Institutional capital continues flowing into Nucor shares. Seaview Investment Managers established a fresh position during the fourth quarter, acquiring 49,546 shares valued at approximately $8.08 million. The position now represents 3% of the firm’s total portfolio.
AQR Capital Management expanded its holdings by 580.9% in the second quarter, bringing its total to 653,845 shares worth $84.7 million. Vaughan Nelson expanded its stake by 169% during Q4, while M&T Bank Corp increased its position by 494.5% in the identical timeframe.
Collectively, institutional investors control 76.48% of Nucor’s outstanding shares.
The company’s board greenlit a $4 billion share repurchase authorization in February, enabling management to buy back up to 9.7% of shares outstanding.
Regarding insider transactions, EVP David A. Sumoski disposed of 33,068 shares on April 30 at a mean price of $225.67, generating approximately $7.46 million in proceeds. Insider Michael D. Keller sold 4,554 shares on May 4 at $225.86 per share.
During the past 90 days, company insiders have divested 71,818 shares valued at roughly $16.2 million. Insiders collectively own 0.62% of the enterprise.
Nucor maintains a market capitalization of $52.83 billion, trades at a P/E ratio of 22.97, and carries a debt-to-equity ratio of 0.30.
Wall Street Zen elevated Nucor from Buy to Strong Buy on May 16.
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