Insider Selling: Nucor Co. (NYSE:NUE) EVP Sells 4,968 Shares of Stock

Nucor Co. (NYSE:NUE) EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Nucor Stock Down 0.9 %

NUE stock traded down $1.33 during trading on Wednesday, hitting $152.56. 533,124 shares of the stock traded hands, compared to its average volume of 1,539,811. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The firm’s 50 day moving average is $148.37 and its two-hundred day moving average is $155.24. The stock has a market cap of $35.82 billion, a price-to-earnings ratio of 14.75 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same period last year, the business posted $4.57 EPS. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. On average, sell-side analysts anticipate that Nucor Co. will post 8.52 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio is presently 20.87%.

Institutional Trading of Nucor

Hedge funds have recently bought and sold shares of the stock. McClarren Financial Advisors Inc. boosted its stake in Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after buying an additional 89 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Nucor in the third quarter worth $26,000. Coastline Trust Co bought a new position in Nucor during the third quarter valued at $29,000. Brown Lisle Cummings Inc. bought a new stake in shares of Nucor in the 3rd quarter worth about $30,000. Finally, Salomon & Ludwin LLC raised its position in shares of Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after buying an additional 72 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NUE. BMO Capital Markets cut their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Morgan Stanley dropped their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $190.57.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.