Nucor (NYSE:NUE) EVP Noah Hanners Sells 5,190 Shares of Company Stock

Nucor Corporation (NYSE:NUE) EVP Noah Hanners sold 5,190 shares of Nucor stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $275.03, for a total transaction of $1,427,405.70. Following the completion of the sale, the executive vice president directly owned 44,073 shares in the company, valued at approximately $12,121,397.19. This represents a 10.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Nucor Stock Performance

Shares of Nucor stock traded down $5.09 during trading hours on Friday, reaching $270.20. The company had a trading volume of 559,214 shares, compared to its average volume of 1,536,730. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.36. The firm has a market cap of $61.30 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.67 and a beta of 1.84. Nucor Corporation has a one year low of $140.93 and a one year high of $280.11. The business has a fifty day simple moving average of $253.14 and a 200 day simple moving average of $222.89.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, October 26th. The basic materials company reported $5.80 EPS for the quarter, missing analysts’ consensus estimates of $5.84 by ($0.04). Nucor had a return on equity of 15.53% and a net margin of 9.26%. The company had revenue of $11.25 billion during the quarter, compared to analysts’ expectations of $10.84 billion. During the same period in the prior year, the firm earned $2.63 EPS. Nucor’s quarterly revenue was up 32.0% on a year-over-year basis. On average, analysts anticipate that Nucor Corporation will post 19.59 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Nucor’s dividend payout ratio is 14.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NUE shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $335.00 target price on shares of Nucor in a research report on Wednesday. BMO Capital Markets increased their target price on Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. Barclays upped their price target on Nucor from $306.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Citigroup reiterated a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $284.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Nucor during the 2nd quarter valued at about $4,452,563,000. Bank of America Corp DE bought a new stake in Nucor during the 2nd quarter valued at about $462,886,000. Berkshire Hathaway Inc purchased a new position in Nucor in the second quarter worth about $413,814,000. Bank of New York Mellon Corp purchased a new position in Nucor in the second quarter worth about $330,902,000. Finally, Legal & General Group Plc bought a new position in shares of Nucor in the second quarter worth approximately $324,154,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Company Profile

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.