Nucor Corporation (NYSE:NUE - Get Free Report) EVP Allen Behr sold 11,846 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $272.90, for a total transaction of $3,232,773.40. Following the completion of the sale, the executive vice president owned 58,022 shares in the company, valued at $15,834,203.80. This represents a 16.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Nucor Stock Up 1.4%
NUE opened at $277.74 on Tuesday. The company has a fifty day moving average price of $254.47 and a 200-day moving average price of $223.97. The firm has a market capitalization of $63.01 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 0.67 and a beta of 1.84. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.36. Nucor Corporation has a one year low of $140.93 and a one year high of $287.70.
Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, October 26th. The basic materials company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $5.84 by ($0.04). Nucor had a return on equity of 15.53% and a net margin of 9.26%. The firm had revenue of $11.25 billion during the quarter, compared to the consensus estimate of $10.84 billion. During the same period in the previous year, the company posted $2.63 EPS. The company's revenue for the quarter was up 32.0% compared to the same quarter last year. Equities research analysts expect that Nucor Corporation will post 19.61 earnings per share for the current fiscal year.
Nucor Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, September 30th. Nucor's payout ratio is presently 14.26%.
Hedge Funds Weigh In On Nucor
Large investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in Nucor during the second quarter valued at approximately $4,452,563,000. Dimensional Fund Advisors LP lifted its holdings in shares of Nucor by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company's stock worth $429,298,000 after acquiring an additional 22,718 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Nucor in the 2nd quarter worth approximately $462,886,000. Berkshire Hathaway Inc bought a new stake in shares of Nucor in the 2nd quarter worth approximately $413,814,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Nucor by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company's stock valued at $306,054,000 after purchasing an additional 29,476 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
NUE has been the topic of several recent analyst reports. Citigroup reaffirmed a "buy" rating on shares of Nucor in a report on Wednesday, July 29th. KeyCorp dropped their price target on Nucor from $288.00 to $286.00 and set an "overweight" rating for the company in a research report on Monday, October 5th. Zacks Research raised Nucor from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 13th. BMO Capital Markets upped their price objective on shares of Nucor from $285.00 to $295.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Nucor from $296.00 to $304.00 and gave the company an "overweight" rating in a research note on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Nucor has a consensus rating of "Moderate Buy" and a consensus target price of $286.44.
Check Out Our Latest Analysis on NUE
Nucor Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
