Nucor Corporation (NYSE:NUE - Get Free Report) COO Stephen Laxton sold 10,560 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $274.98, for a total value of $2,903,788.80. Following the completion of the sale, the chief operating officer directly owned 77,867 shares of the company's stock, valued at approximately $21,411,867.66. This trade represents a 11.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Nucor Price Performance
NUE opened at $267.85 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.43. The firm's fifty day moving average price is $255.45 and its two-hundred day moving average price is $224.94. Nucor Corporation has a 1 year low of $140.93 and a 1 year high of $287.70. The company has a market capitalization of $60.77 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 0.67 and a beta of 1.81.
Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, October 26th. The basic materials company reported $5.80 EPS for the quarter, missing the consensus estimate of $5.84 by ($0.04). The firm had revenue of $11.25 billion for the quarter, compared to the consensus estimate of $10.84 billion. Nucor had a return on equity of 15.53% and a net margin of 9.26%. Nucor's quarterly revenue was up 32.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.63 EPS. As a group, analysts anticipate that Nucor Corporation will post 19.61 earnings per share for the current fiscal year.
Nucor Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, September 30th. Nucor's dividend payout ratio (DPR) is 14.26%.
Key Nucor News
Here are the key news stories impacting Nucor this week:
- Positive Sentiment: KeyCorp raised its price target to $301 from $286 and maintained an Overweight rating. CFRA also upgraded Nucor from Strong Sell to Hold, a less pessimistic view. Analyst ratings
- Positive Sentiment: Recent quarterly results showed revenue up 32% year over year and ahead of estimates, though EPS narrowly missed consensus. Steady guidance, moderating capital spending and strong cash flow are also supporting shareholder returns, including buybacks and dividends. Nucor: 3 Key Takeaways for Long-Term Investors
- Neutral Sentiment: Nucor has shown strong relative strength over the past month, but the latest pullback followed a substantial recent share-price advance and a move near its 52-week high. Stocks Showing Impressive Relative Strength
- Negative Sentiment: Several insiders have recently sold shares. COO Stephen Laxton sold 10,560 shares, reducing his position by 11.94%; EVP Allen Behr and insider Michael Keller also disclosed sales. Such transactions can add caution, although they do not necessarily signal a change in the company’s outlook. SEC filing for Stephen Laxton sale
- Negative Sentiment: Nucor fell sharply in the latest session, with the decline reported to have erased about $3 billion in market value. The available report describes the selloff but does not identify a specific catalyst. Nucor Drops 5.4% in a Single Session
Analysts Set New Price Targets
Several equities analysts recently commented on NUE shares. UBS Group upped their price objective on Nucor from $224.00 to $256.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. Morgan Stanley set a $270.00 target price on Nucor in a research note on Wednesday, July 29th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $335.00 price target on shares of Nucor in a research report on Wednesday, October 28th. Freedom Broker upgraded Nucor from a "hold" rating to a "buy" rating and increased their price target for the stock from $285.00 to $304.00 in a research note on Friday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on Nucor from $296.00 to $304.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Nucor presently has an average rating of "Moderate Buy" and an average price target of $287.38.
Get Our Latest Stock Report on NUE
Institutional Investors Weigh In On Nucor
Institutional investors and hedge funds have recently made changes to their positions in the business. Csenge Advisory Group purchased a new stake in shares of Nucor in the 3rd quarter valued at about $237,000. 71 West Capital Partners grew its holdings in shares of Nucor by 2.8% during the third quarter. 71 West Capital Partners now owns 5,847 shares of the basic materials company's stock worth $1,367,000 after purchasing an additional 160 shares in the last quarter. Montis Financial LLC purchased a new position in shares of Nucor during the third quarter worth about $206,000. Gryphon Financial Partners LLC bought a new position in shares of Nucor in the third quarter worth approximately $209,000. Finally, Fulcrum Asset Management LLP increased its position in shares of Nucor by 10,885.7% in the third quarter. Fulcrum Asset Management LLP now owns 1,538 shares of the basic materials company's stock worth $363,000 after purchasing an additional 1,524 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.
About Nucor
(
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.
See Also
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].
