Key Points
- Executive Vice President John Hollatz sold 10,560 Nucor shares on June 3 at an average price of $258.46, totaling about $2.73 million. After the sale, he still owned 97,865 shares, which represented a 9.74% reduction in his stake.
- Nucor recently delivered strong quarterly results, reporting EPS of $3.23 versus estimates of $2.82 and revenue of $9.50 billion versus expectations of $8.88 billion. Revenue also rose 21.3% year over year, and analysts now expect full-year EPS of 14.84.
- Sentiment around the stock remains positive overall, with several analysts raising price targets and the company maintaining a share buyback authorization of $4 billion. Nucor’s consensus rating is “Moderate Buy,” with an average target price of $255.67.
Nucor Corporation (NYSE:NUE - Get Free Report) 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 completion of the sale, the executive vice president owned 97,865 shares in the company, valued at $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Nucor Stock Performance
Shares of NYSE:NUE opened at $262.16 on Friday. The stock has a market capitalization of $59.70 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 0.68 and a beta of 1.88. Nucor Corporation has a fifty-two week low of $115.66 and a fifty-two week high of $264.67. The business's fifty day moving average price is $211.86 and its two-hundred day moving average price is $184.42. 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 - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.41. The business had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.Nucor's revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 EPS. As a group, analysts predict that Nucor Corporation will post 14.84 EPS for the current fiscal year.
Nucor announced that its board has approved a share buyback program 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 repurchase up to 9.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
NUE has been the topic of a number of research analyst reports. BNP Paribas Exane increased their price target on Nucor from $210.00 to $248.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Argus increased their price target on Nucor from $200.00 to $262.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Bank of America increased their price target on Nucor from $190.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Wall Street Zen upgraded Nucor from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. Finally, UBS Group lowered Nucor from a "buy" rating to a "neutral" rating and increased their price target for the stock from $190.00 to $224.00 in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $255.67.
Get Our Latest Stock Analysis on Nucor
Nucor News Roundup
Here are the key news stories impacting Nucor this week:
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Strive Financial Group LLC bought a new position in Nucor in the 4th quarter valued at $27,000. Stance Capital LLC bought a new position in Nucor in the 3rd quarter valued at $25,000. Bartlett & CO. Wealth Management LLC boosted its position in Nucor by 49.2% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock valued at $32,000 after buying an additional 63 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new position in Nucor in the 4th quarter valued at $32,000. Finally, Motiv8 Investments LLC bought a new position in Nucor in the 4th quarter valued at $32,000. 76.48% of the stock is currently owned by institutional investors.
Nucor Company Profile
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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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