Kenneth Rex Query Sells 7,452 Shares of Nucor (NYSE:NUE) Stock

Nucor Corporation (NYSE:NUE) EVP Kenneth Rex Query sold 7,452 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the completion of the sale, the executive vice president owned 76,628 shares in the company, valued at $15,020,620.56. This represents a 8.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Nucor Stock Performance

NUE stock traded down $3.64 during midday trading on Friday, hitting $185.17. 1,185,867 shares of the stock traded hands, compared to its average volume of 1,885,624. The stock’s fifty day simple moving average is $171.82 and its 200-day simple moving average is $153.60. The firm has a market cap of $42.38 billion, a P/E ratio of 24.44, a PEG ratio of 0.70 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $196.90.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period in the prior year, the company earned $1.22 EPS. The company’s revenue was up 8.6% on a year-over-year basis. On average, analysts expect that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, December 31st were paid a $0.56 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 1.2%. Nucor’s payout ratio is currently 29.71%.

Analyst Ratings Changes

NUE has been the subject of several analyst reports. BMO Capital Markets reissued an “outperform” rating on shares of Nucor in a research report on Wednesday, October 29th. Citigroup lifted their price target on Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. BNP Paribas Exane upped their price target on shares of Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, January 2nd. Seaport Research Partners lifted their target price on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research note on Monday, December 29th. Eight equities 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.36.

Institutional Trading of Nucor

A number of hedge funds and other institutional investors have recently made changes to their positions in NUE. Integrated Wealth Concepts LLC raised its holdings in shares of Nucor by 21.1% in the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after buying an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Nucor in the 1st quarter valued at about $259,000. Geneos Wealth Management Inc. raised its holdings in Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 153 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Nucor during the second quarter valued at about $390,000. Finally, Concurrent Investment Advisors LLC lifted its holdings in Nucor by 35.4% during the second quarter. Concurrent Investment Advisors LLC now owns 5,678 shares of the basic materials company’s stock worth $735,000 after buying an additional 1,486 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

About Nucor

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.