Nucor (NYSE:NUE) COO Sells $1,019,617.28 in Stock

Nucor Corporation (NYSE:NUE) COO Stephen Laxton sold 3,968 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Nucor Price Performance

Shares of NYSE:NUE opened at $274.52 on Thursday. The company has a 50 day moving average of $244.76 and a 200 day moving average of $209.68. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The stock has a market cap of $62.52 billion, a P/E ratio of 21.89, a P/E/G ratio of 0.61 and a beta of 1.89. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating the consensus estimate of $4.46 by $0.38. The firm had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period last year, the firm earned $2.60 EPS. As a group, sell-side analysts forecast that Nucor Corporation will post 18.02 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio is currently 17.86%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NUE. Argus lifted their price target on Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, May 15th. UBS Group lifted their target price on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Bank of America cut their price target on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Seaport Research Partners increased their price target on shares of Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Finally, BMO Capital Markets lifted their price objective on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $273.31.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NUE. Integrated Wealth Concepts LLC raised its position in Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 568 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Nucor in the first quarter worth about $259,000. Geneos Wealth Management Inc. lifted its stake in shares of Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Nucor during the 2nd quarter valued at about $390,000. Finally, Cerity Partners LLC grew its position in Nucor by 51.9% during the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock worth $5,263,000 after acquiring an additional 13,877 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other 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.