Nucor (NYSE:NUE) EVP Sells $1,358,025.00 in Stock

Nucor Corporation (NYSE:NUE) EVP Allen Behr sold 7,500 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $181.07, for a total transaction of $1,358,025.00. Following the completion of the transaction, the executive vice president owned 67,711 shares in the company, valued at $12,260,430.77. This trade represents a 9.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Nucor Trading Up 3.4%

Shares of NUE stock opened at $192.91 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. The company has a market cap of $44.15 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 0.68 and a beta of 1.86. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $193.09. The firm has a fifty day moving average price of $169.44 and a 200-day moving average price of $152.26.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the firm posted $1.22 earnings per share. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts predict that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, December 31st will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.2%. This is a boost from Nucor’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, December 31st. Nucor’s payout ratio is presently 29.71%.

Analyst Ratings Changes

Several brokerages have commented on NUE. Seaport Research Partners boosted their price target on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Morgan Stanley reiterated an “equal weight” rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. Weiss Ratings restated a “hold (c)” rating on shares of Nucor in a report on Monday, December 29th. Wall Street Zen raised Nucor from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, Citigroup increased their target price on Nucor from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus target price of $179.36.

Hedge Funds Weigh In On Nucor

Several large investors have recently modified their holdings of the stock. Stance Capital LLC bought a new position in Nucor during the third quarter valued at $25,000. IMA Advisory Services Inc. boosted its stake in shares of Nucor by 51.4% during the 2nd quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 75 shares during the period. AXS Investments LLC bought a new position in Nucor during the 3rd quarter valued at about $37,000. Vision Financial Markets LLC raised its position in Nucor by 281.7% in the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 200 shares during the period. Finally, Ares Financial Consulting LLC purchased a new stake in Nucor in the 4th quarter worth about $45,000. Institutional investors own 76.48% of the company’s stock.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.