Insider Selling: Nucor (NYSE:NUE) EVP Sells $2,729,337.60 in Stock

Nucor Corporation (NYSE:NUE) EVP John Hollatz sold 10,560 shares of Nucor stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the sale, the executive vice president owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Nucor Stock Performance

Shares of NYSE NUE opened at $254.14 on Friday. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. Nucor Corporation has a 12 month low of $115.66 and a 12 month high of $264.67. The company has a 50 day simple moving average of $213.65 and a two-hundred day simple moving average of $184.90. The stock has a market cap of $57.88 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 0.67 and a beta of 1.88.

Nucor (NYSE:NUE) last posted its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the previous year, the business posted $0.77 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. As a group, analysts predict that Nucor Corporation will post 14.84 earnings per share for the current year.

Nucor declared that its board has initiated a stock repurchase plan on Friday, February 20th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the basic materials company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NUE shares. Argus boosted their target price on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Jefferies Financial Group boosted their target price on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Bank of America boosted their target price on shares of Nucor from $190.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. BNP Paribas Exane boosted their target price on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company boosted their target price on shares of Nucor from $244.00 to $292.00 and gave the company an “overweight” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $255.67.

Institutional Investors Weigh In On Nucor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strive Financial Group LLC purchased a new stake in Nucor in the 4th quarter worth $27,000. Stance Capital LLC purchased a new stake in Nucor in the 3rd quarter worth $25,000. Bartlett & CO. Wealth Management LLC increased its holdings in Nucor by 49.2% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 63 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in Nucor in the 4th quarter worth $32,000. Finally, Motiv8 Investments LLC purchased a new stake in Nucor in the 4th quarter worth $32,000. Hedge funds and other 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.