Nucor (NYSE:NUE) EVP Sells $1,426,568.00 in Stock

Nucor Corporation (NYSE:NUE) EVP Allen Behr sold 7,568 shares of Nucor stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the transaction, the executive vice president directly owned 67,711 shares in the company, valued at $12,763,523.50. This trade represents a 10.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Nucor Stock Performance

Nucor stock opened at $192.91 on Friday. The firm has a 50 day simple moving average of $169.44 and a 200-day simple moving average of $152.26. The stock has a market cap of $44.15 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 0.68 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $193.09.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18). The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS. On average, analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.56 per share. The ex-dividend date is Wednesday, December 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Nucor’s previous quarterly dividend of $0.55. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

Analysts Set New Price Targets

Several brokerages have weighed in on NUE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research note on Monday, December 29th. Jefferies Financial Group increased their price objective on shares of Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. BMO Capital Markets reiterated an “outperform” rating on shares of Nucor in a report on Wednesday, October 29th. Citigroup upped their price target on Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group lifted their price objective on Nucor from $182.00 to $196.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $179.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Nucor by 0.7% during the second quarter. Vanguard Group Inc. now owns 29,171,068 shares of the basic materials company’s stock worth $3,778,820,000 after buying an additional 211,741 shares during the period. State Street Corp increased its position in shares of Nucor by 3.1% in the 2nd quarter. State Street Corp now owns 12,501,779 shares of the basic materials company’s stock valued at $1,626,321,000 after purchasing an additional 371,911 shares during the last quarter. Berkshire Hathaway Inc acquired a new stake in shares of Nucor in the 2nd quarter valued at $856,792,000. Norges Bank acquired a new stake in shares of Nucor in the 2nd quarter valued at $479,858,000. Finally, Capital World Investors lifted its position in shares of Nucor by 20.1% during the 3rd quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after purchasing an additional 509,019 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

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.