Key Points
- Nucor EVP Thomas Batterbee sold 4,000 shares at an average price of $261.02, generating $1.04 million and reducing his direct ownership by 19.86% to 16,138 shares.
- Nucor reported strong quarterly results, with EPS of $4.84 beating estimates of $4.46 and revenue rising 23% year over year to $10.40 billion.
- Analysts maintain a generally positive view, with 12 Buy ratings and four Holds, a “Moderate Buy” consensus, and an average price target of $273.31; the company also declared a quarterly dividend of $0.56 per share.
Nucor Corporation (NYSE:NUE - Get Free Report) EVP Thomas Batterbee sold 4,000 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares of the company's stock, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Nucor Price Performance
Shares of NUE opened at $274.52 on Thursday. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The company's fifty day simple moving average is $244.76 and its 200 day simple moving average is $209.68. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $280.11. The company has a market cap of $62.52 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 0.61 and a beta of 1.89.
Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating analysts' consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm had revenue of $10.40 billion during the quarter, compared to analysts' expectations of $10.15 billion. During the same quarter last year, the company posted $2.60 earnings per share. The company's revenue for the quarter was up 23.0% compared to the same quarter last year. On average, research analysts forecast that Nucor Corporation will post 18.02 earnings per share for the current fiscal year.
Nucor Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Nucor's dividend payout ratio (DPR) is 17.86%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. Argus boosted 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. Weiss Ratings raised Nucor from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 14th. BNP Paribas Exane lifted their target price on Nucor from $210.00 to $248.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. Barclays boosted their target price on Nucor from $272.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Finally, Bank of America cut their price target on Nucor from $290.00 to $280.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $273.31.
Get Our Latest Analysis on Nucor
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Stance Capital LLC bought a new stake in shares of Nucor during the third quarter worth approximately $25,000. Strive Financial Group LLC acquired a new position in shares of Nucor in the fourth quarter valued at approximately $27,000. Motiv8 Investments LLC acquired a new position in shares of Nucor in the fourth quarter valued at approximately $32,000. Bartlett & CO. Wealth Management LLC increased its stake in shares of Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock worth $32,000 after purchasing an additional 63 shares during the period. Finally, Mcguire Capital Advisors Inc. bought a new position in shares of Nucor during the fourth quarter worth approximately $32,000. 76.48% of the stock is owned by institutional investors.
Nucor Company Profile
(
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.
Further Reading
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