Key Points
- Daniel Needham, Nucor's EVP, sold 3,881 shares on January 30 at an average price of $178 for a total of $690,818, leaving him with 88,298 shares (a 4.21% reduction) as disclosed in an SEC filing.
- Nucor missed quarterly estimates (EPS $1.73 vs. $1.91 expected; revenue $7.69B vs. $7.93B) though revenue was up 8.6% year-over-year, and the company raised its quarterly dividend to $0.56 (annualized $2.24, yield 1.2%) amid a consensus analyst rating of "Moderate Buy" with a $179.36 target.
Nucor Corporation (NYSE:NUE - Get Free Report) EVP Daniel Needham sold 3,881 shares of the business's stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $178.00, for a total transaction of $690,818.00. Following the sale, the executive vice president directly owned 88,298 shares of the company's stock, valued at approximately $15,717,044. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Nucor Stock Performance
Shares of Nucor stock opened at $186.78 on Wednesday. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $188.92. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $167.60 and a 200-day moving average price of $151.40. The company has a market cap of $42.75 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 0.66 and a beta of 1.86.
Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.18). The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. Nucor's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $1.22 earnings per share. Equities analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.
Nucor Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, December 31st will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, December 31st. This is a boost from Nucor's previous quarterly dividend of $0.55. Nucor's dividend payout ratio (DPR) is presently 29.71%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on NUE shares. Seaport Research Partners upped their price objective on Nucor from $170.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, January 30th. UBS Group lowered shares of Nucor from a "buy" rating to a "neutral" rating and set a $183.00 price target for the company. in a research report on Wednesday, January 28th. Citigroup raised their price objective on shares of Nucor from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Thursday, October 30th. Morgan Stanley reiterated an "equal weight" rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a research note on Friday, January 9th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Nucor in a research report on Monday, December 29th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $179.36.
Check Out Our Latest Analysis on NUE
Institutional Trading of Nucor
Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Nucor by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 29,171,068 shares of the basic materials company's stock valued at $3,778,820,000 after buying an additional 211,741 shares in the last quarter. State Street Corp raised its holdings in Nucor by 3.1% during the 2nd quarter. State Street Corp now owns 12,501,779 shares of the basic materials company's stock valued at $1,626,321,000 after acquiring an additional 371,911 shares during the period. Berkshire Hathaway Inc purchased a new stake in shares of Nucor during the second quarter worth $856,792,000. Norges Bank purchased a new stake in shares of Nucor during the second quarter worth $479,858,000. Finally, Capital World Investors boosted its holdings in shares of Nucor by 20.1% in the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company's stock worth $412,081,000 after acquiring an additional 509,019 shares during the period. Institutional investors own 76.48% of the company's stock.
About Nucor
(
Get Free Report)
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.
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