Nucor Co. (NYSE:NUE) Insider Michael D. Keller Sells 3,145 Shares of Stock

Nucor Co. (NYSE:NUEGet Free Report) insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Nucor Stock Up 0.6 %

Shares of NYSE NUE opened at $195.57 on Tuesday. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $198.61. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $47.08 billion, a price-to-earnings ratio of 10.87 and a beta of 1.61. The business has a 50-day moving average of $184.05 and a 200-day moving average of $168.54.

Nucor (NYSE:NUEGet Free Report) last issued its quarterly earnings data on Monday, January 29th. The basic materials company reported $3.16 EPS for the quarter, topping the consensus estimate of $2.83 by $0.33. The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.64 billion. Nucor had a return on equity of 21.42% and a net margin of 13.03%. Nucor’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.89 earnings per share. Sell-side analysts expect that Nucor Co. will post 14.03 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.10%. The ex-dividend date is Wednesday, March 27th. Nucor’s dividend payout ratio is currently 12.01%.

Institutional Trading of Nucor

Several hedge funds and other institutional investors have recently bought and sold shares of NUE. Moneta Group Investment Advisors LLC boosted its stake in Nucor by 127,059.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 155,232,061 shares of the basic materials company’s stock worth $20,461,138,000 after buying an additional 155,109,984 shares in the last quarter. Norges Bank purchased a new stake in Nucor in the fourth quarter worth approximately $377,631,000. Morgan Stanley lifted its position in Nucor by 30.0% in the fourth quarter. Morgan Stanley now owns 4,247,626 shares of the basic materials company’s stock valued at $559,880,000 after purchasing an additional 979,824 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Nucor in the fourth quarter valued at approximately $108,747,000. Finally, Imprint Wealth LLC lifted its position in Nucor by 21,987.3% in the second quarter. Imprint Wealth LLC now owns 528,992 shares of the basic materials company’s stock valued at $52,899,000 after purchasing an additional 526,597 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NUE shares. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. JPMorgan Chase & Co. lifted their target price on Nucor from $151.00 to $158.00 and gave the company a “neutral” rating in a report on Tuesday, December 12th. UBS Group assumed coverage on Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price for the company. Finally, StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nucor has a consensus rating of “Hold” and a consensus target price of $186.67.

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About Nucor

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Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.

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Insider Buying and Selling by Quarter for Nucor (NYSE:NUE)

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