Allen Behr Sells 7,568 Shares of Nucor (NYSE:NUE) Stock

Nucor Corporation (NYSE:NUE) EVP Allen Behr sold 7,568 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the completion of the sale, the executive vice president directly owned 67,711 shares of the company’s stock, valued at $12,763,523.50. This trade represents a 10.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nucor Stock Performance

NUE stock opened at $186.57 on Friday. The firm has a 50 day simple moving average of $168.77 and a 200 day simple moving average of $151.91. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $191.04. The stock has a market cap of $42.70 billion, a P/E ratio of 24.74, a P/E/G ratio of 0.69 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94.

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

Nucor Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 1.2%. Nucor’s payout ratio is 29.71%.

Institutional Trading of Nucor

Institutional investors and hedge funds have recently modified their holdings of the company. Stance Capital LLC bought a new position in Nucor in the 3rd quarter worth $25,000. IMA Advisory Services Inc. grew its position in shares of Nucor by 51.4% in the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 75 shares during the last quarter. AXS Investments LLC bought a new position in shares of Nucor in the third quarter worth about $37,000. Vision Financial Markets LLC increased its stake in shares of Nucor by 281.7% in the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 200 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Nucor during the 2nd quarter worth about $39,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NUE shares. The Goldman Sachs Group raised their price target on Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Citigroup raised their price objective on shares of Nucor from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Morgan Stanley reiterated an “equal weight” rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a research note on Friday, January 9th. Wells Fargo & Company increased their price target on shares of Nucor from $176.00 to $184.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Finally, Seaport Research Partners lifted their price objective on shares of Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $179.36.

Nucor Company Profile

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.