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

Nucor Corporation (NYSE:NUE) EVP Kenneth Rex Query sold 7,452 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total value of $1,460,741.04. Following the completion of the transaction, the executive vice president directly owned 76,628 shares of the company’s stock, valued at approximately $15,020,620.56. This trade represents a 8.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Nucor Price Performance

NYSE NUE traded down $3.64 during trading on Friday, reaching $185.17. The company’s stock had a trading volume of 1,185,867 shares, compared to its average volume of 1,885,624. The firm has a fifty day moving average of $171.82 and a 200 day moving average of $153.60. The stock has a market capitalization of $42.38 billion, a PE ratio of 24.44, a P/E/G ratio of 0.70 and a beta of 1.86. Nucor Corporation has a one year low of $97.59 and a one year high of $196.90. 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 (NYSE:NUE) last issued its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 EPS 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 firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period in the previous year, the business earned $1.22 EPS. Nucor’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Increases Dividend

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

Hedge Funds Weigh In On Nucor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Stance Capital LLC purchased a new position in Nucor in the 3rd quarter worth approximately $25,000. IMA Advisory Services Inc. raised its position in Nucor by 51.4% during the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock valued at $29,000 after buying an additional 75 shares during the period. AXS Investments LLC bought a new position in Nucor during the third quarter valued at about $37,000. Vision Financial Markets LLC boosted its stake in shares of Nucor by 281.7% in the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Nucor in the second quarter worth $39,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NUE. BNP Paribas Exane upped their target price on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. BMO Capital Markets restated an “outperform” rating on shares of Nucor in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a report on Monday, December 29th. The Goldman Sachs Group upped their target price on shares of Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Finally, UBS Group cut shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price target on the stock. in a research report on Wednesday, January 28th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.36.

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.