Nucor (NYSE:NUE) EVP Sells $519,971.20 in Stock

Nucor Corporation (NYSE:NUE) EVP Bradley Ford sold 2,240 shares of Nucor stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total transaction of $519,971.20. Following the completion of the sale, the executive vice president owned 43,649 shares of the company’s stock, valued at $10,132,242.37. This represents a 4.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Nucor Stock Down 3.4%

NYSE NUE traded down $7.85 on Thursday, hitting $226.37. 781,811 shares of the company were exchanged, compared to its average volume of 1,659,010. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. The company has a market cap of $51.53 billion, a PE ratio of 22.41, a PEG ratio of 0.67 and a beta of 1.87. The stock has a fifty day moving average of $183.07 and a 200-day moving average of $170.61. Nucor Corporation has a 12 month low of $106.21 and a 12 month high of $235.44.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. The business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS. As a group, analysts forecast that Nucor Corporation will post 13.64 earnings per share for the current year.

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

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Nucor’s dividend payout ratio (DPR) is currently 22.18%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group raised their price objective 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. Wall Street Zen upgraded shares of Nucor from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. BMO Capital Markets lifted their price target on Nucor from $196.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Seaport Research Partners reissued a “buy” rating and set a $245.00 price objective on shares of Nucor in a report on Thursday, April 30th. Finally, The Goldman Sachs Group increased their price objective on Nucor from $240.00 to $260.00 in a research note on Friday, May 1st. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.80.

Institutional Trading of Nucor

A number of hedge funds have recently bought and sold shares of the business. Stance Capital LLC purchased a new position in Nucor in the third quarter worth $25,000. Strive Financial Group LLC purchased a new stake in shares of Nucor during the 4th quarter valued at $27,000. Motiv8 Investments LLC bought a new stake in shares of Nucor during the 4th quarter worth $32,000. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of 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 buying an additional 63 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new position in shares of Nucor in the 4th quarter worth about $32,000. 76.48% of the stock is currently owned by institutional investors.

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.