Insider Selling: Nucor (NYSE:NUE) EVP Sells 10,560 Shares of Stock

Nucor Corporation (NYSE:NUE) EVP John Hollatz sold 10,560 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the sale, the executive vice president directly owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Nucor Trading Up 2.5%

NYSE NUE traded up $6.37 on Thursday, hitting $264.10. 226,676 shares of the company were exchanged, compared to its average volume of 1,616,922. Nucor Corporation has a twelve month low of $115.66 and a twelve month high of $263.25. The company’s 50 day moving average price is $209.87 and its 200-day moving average price is $183.61. The firm has a market capitalization of $60.15 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 0.68 and a beta of 1.88. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping the consensus estimate 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 net margin of 6.82% and a return on equity of 10.68%. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. Analysts predict that Nucor Corporation will post 14.84 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Seaport Research Partners reissued a “buy” rating and issued a $245.00 price target on shares of Nucor in a research note on Thursday, April 30th. UBS Group cut Nucor from a “buy” rating to a “neutral” rating and boosted their price target for the company from $190.00 to $224.00 in a research note on Tuesday, April 28th. JPMorgan Chase & Co. boosted their target price on Nucor from $212.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Bank of America boosted their target price on Nucor from $190.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Barclays started coverage on Nucor in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $255.67.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Fox Run Management L.L.C. bought a new stake in shares of Nucor during the third quarter worth $1,528,000. Penserra Capital Management LLC grew its holdings in shares of Nucor by 15,814.3% during the third quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock worth $452,000 after purchasing an additional 3,321 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Nucor by 11.1% during the fourth quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock worth $342,642,000 after purchasing an additional 210,577 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Nucor during the fourth quarter worth $1,989,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Nucor by 745.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock worth $13,614,000 after purchasing an additional 73,588 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

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.