Allen Behr Sells 7,500 Shares of Nucor (NYSE:NUE) Stock

Nucor Corporation (NYSE:NUE) EVP Allen Behr sold 7,500 shares of Nucor stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $181.07, for a total value of $1,358,025.00. Following the completion of the transaction, the executive vice president directly owned 67,711 shares of the company’s stock, valued at approximately $12,260,430.77. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Nucor Stock Down 1.8%

Shares of Nucor stock opened at $186.57 on Friday. Nucor Corporation has a one year low of $97.59 and a one year high of $191.04. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. The stock’s 50-day moving average is $168.77 and its 200 day moving average is $151.91. The firm has a market cap of $42.70 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 0.69 and a beta of 1.86.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 earnings per share. Equities research analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Investors of record on Wednesday, December 31st will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.55. Nucor’s dividend payout ratio is presently 29.71%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NUE shares. Wells Fargo & Company lifted their price target on shares of Nucor from $176.00 to $184.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. JPMorgan Chase & Co. boosted their target price on Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. BMO Capital Markets reiterated an “outperform” rating on shares of Nucor in a report on Wednesday, October 29th. BNP Paribas Exane boosted their price objective on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, January 2nd. Finally, UBS Group lowered Nucor from a “buy” rating to a “neutral” rating and set a $183.00 target price on the stock. in a research report on Wednesday, January 28th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $179.36.

Institutional Trading of Nucor

Several institutional investors and hedge funds have recently modified their holdings of NUE. Vanguard Group Inc. boosted its position in shares of Nucor by 0.7% during the second quarter. Vanguard Group Inc. now owns 29,171,068 shares of the basic materials company’s stock valued at $3,778,820,000 after buying an additional 211,741 shares during the last quarter. State Street Corp lifted its stake in Nucor by 3.1% during the 2nd quarter. State Street Corp now owns 12,501,779 shares of the basic materials company’s stock valued at $1,626,321,000 after acquiring an additional 371,911 shares in the last quarter. Berkshire Hathaway Inc purchased a new position in Nucor during the 2nd quarter worth $856,792,000. Norges Bank bought a new stake in shares of Nucor in the 2nd quarter worth $479,858,000. Finally, Capital World Investors raised its holdings in shares of Nucor by 20.1% in the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock valued at $412,081,000 after purchasing an additional 509,019 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

About Nucor

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.