Insider Selling: Nucor (NYSE:NUE) EVP Sells $1,460,741.04 in Stock

Nucor Corporation (NYSE:NUE) EVP Kenneth Rex Query sold 7,452 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total value of $1,460,741.04. Following the completion of the transaction, the executive vice president directly owned 76,628 shares in the company, valued at approximately $15,020,620.56. This trade represents a 8.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Nucor Stock Down 3.1%

Shares of Nucor stock opened at $182.97 on Monday. The business has a fifty day simple moving average of $172.29 and a 200 day simple moving average of $154.03. The stock has a market cap of $41.87 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 0.66 and a beta of 1.86. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $196.90.

Nucor (NYSE:NUE) last issued its earnings results 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). The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.Nucor’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS. Research analysts predict that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, December 31st were issued a dividend of $0.56 per share. This is an increase from Nucor’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, December 31st. Nucor’s dividend payout ratio is presently 29.71%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NUE. Citigroup lifted their price target on shares of Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Nucor in a research note on Wednesday, October 29th. Wells Fargo & Company boosted their target price on Nucor from $176.00 to $184.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Wall Street Zen upgraded Nucor from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, Jefferies Financial Group lifted their price objective on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, January 12th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Nucor has an average rating of “Moderate Buy” and an average price target of $179.36.

Hedge Funds Weigh In On Nucor

Large investors have recently added to or reduced their stakes in the company. Stance Capital LLC acquired a new position in shares of Nucor during the third quarter worth about $25,000. IMA Advisory Services Inc. boosted its position in 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 acquiring an additional 75 shares during the last quarter. AXS Investments LLC bought a new position in shares of Nucor during the 3rd quarter worth approximately $37,000. Vision Financial Markets LLC grew its stake in shares of Nucor by 281.7% during the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 200 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Nucor in the second quarter valued at approximately $39,000. 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.