Key Highlights
- Shares of Nucor reached a record peak of $235.92, marking a 117% gain over 12 months
- First quarter 2026 earnings per share of $3.23 exceeded Wall Street’s $2.82 projection; sales of $9.5B topped the $8.88B estimate
- BMO Capital elevated its target price to $250 while reaffirming an Outperform stance
- The company’s board greenlit a $4 billion stock repurchase program
- Wall Street’s consensus view stands at Moderate Buy with a mean target of $247.50
Shares of Nucor (NUE) climbed to a record high of $235.92 during Tuesday’s trading session, capping off an extraordinary 12-month period that has delivered 117% returns to shareholders.
The steelmaker’s shares commenced trading at $231.99, representing a dramatic ascent from its 52-week low of $106.21. Current technical indicators show the 50-day moving average positioned at $197.40, while the 200-day average rests at $178.40.
This impressive performance follows a stellar first quarter 2026 financial report. The company delivered earnings per share of $3.23, surpassing analyst expectations of $2.82 by a significant $0.41 margin.
Top-line results also impressed, with revenue reaching $9.5 billion—eclipsing the $8.88 billion Street estimate and representing a robust 21.3% increase compared to the prior year period. This performance marks a dramatic turnaround from the same quarter last year when the company generated only $0.77 in earnings per share.
The steel manufacturer’s return on equity currently registers at 10.68%, complemented by a net margin of 6.82%. Wall Street now projects full-year earnings per share of $14.58.
Wall Street’s Take
BMO Capital elevated its price objective on Nucor to $250 from $235 following the earnings surprise, maintaining its Outperform designation. Analyst Katja Jancic highlighted encouraging forward-looking statements from company leadership.
Barclays launched coverage with an Overweight recommendation and established a $270 price objective. CICC Research similarly initiated coverage with an Outperform rating.
Morgan Stanley increased its target from $180 to $227, although it maintained an Equal Weight position. Conversely, UBS shifted to a more cautious stance, downgrading from Buy to Neutral while still lifting its price target to $224.
The aggregate analyst sentiment points to a Moderate Buy recommendation, with the average price target sitting at $247.50. The breakdown includes two Strong Buy ratings, ten Buy recommendations, and four Hold ratings.
Institutional Momentum
Large institutional players have been accumulating shares aggressively. 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 dramatically expanded its stake by 580.9% in the second quarter, bringing its holdings to 653,845 shares worth $84.7 million. Vaughan Nelson expanded its position by 169% during Q4, while M&T Bank Corp amplified its holdings by an impressive 494.5% in the same quarter.
Institutional investors collectively control 76.48% of Nucor’s outstanding shares.
The company’s board of directors also approved a substantial $4 billion share repurchase authorization in February, providing capacity to buy back up to 9.7% of shares currently outstanding.
Regarding insider transactions, Executive Vice President David A. Sumoski divested 33,068 shares on April 30 at an average price of $225.67, generating proceeds of approximately $7.46 million. Additionally, insider Michael D. Keller sold 4,554 shares on May 4 at $225.86 per share.
Over the trailing 90-day period, company insiders have sold a combined 71,818 shares valued at roughly $16.2 million. Corporate insiders maintain ownership of 0.62% of the company.
Nucor currently trades with a market capitalization of $52.83 billion, a price-to-earnings ratio of 22.97, and maintains a conservative debt-to-equity ratio of 0.30.
Wall Street Zen elevated its recommendation on Nucor from Buy to Strong Buy on May 16.
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