Nucor Co. (NUE) Chairman Sells $917,749.56 in Stock
Nucor Co. (NYSE:NUE) Chairman John J. Ferriola sold 14,313 shares of Nucor stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $64.12, for a total value of $917,749.56. Following the completion of the transaction, the chairman now owns 333,775 shares of the company’s stock, valued at approximately $21,401,653. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Nucor Co. (NYSE NUE) traded up $0.65 during midday trading on Wednesday, hitting $64.73. The company had a trading volume of 1,057,741 shares, compared to its average volume of 3,133,552. The company has a quick ratio of 1.19, a current ratio of 2.42 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $20,370.00, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.07 and a beta of 1.56. Nucor Co. has a 12-month low of $51.67 and a 12-month high of $70.48.
Nucor (NYSE:NUE) last announced its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.10. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.86 billion. Nucor had a return on equity of 13.03% and a net margin of 6.58%. Nucor’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 earnings per share. equities research analysts anticipate that Nucor Co. will post 4.92 earnings per share for the current year.
Several research firms recently commented on NUE. Zacks Investment Research upgraded Nucor from a “hold” rating to a “strong-buy” rating and set a $73.00 price target for the company in a research report on Tuesday. Morgan Stanley dropped their price target on Nucor from $70.00 to $68.00 and set a “hold” rating for the company in a research report on Tuesday, February 6th. Jefferies Group reiterated a “buy” rating and issued a $76.00 price target on shares of Nucor in a research report on Wednesday, January 31st. BMO Capital Markets lifted their price target on Nucor to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 31st. They noted that the move was a valuation call. Finally, Credit Suisse Group lifted their price target on Nucor from $67.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $69.70.
Large investors have recently modified their holdings of the stock. Flippin Bruce & Porter Inc. raised its stake in Nucor by 1,802.0% in the third quarter. Flippin Bruce & Porter Inc. now owns 82,298 shares of the basic materials company’s stock worth $4,612,000 after buying an additional 77,971 shares in the last quarter. CI Investments Inc. bought a new position in Nucor in the third quarter worth approximately $55,250,000. Deltec Asset Management LLC raised its stake in Nucor by 184.8% in the third quarter. Deltec Asset Management LLC now owns 28,481 shares of the basic materials company’s stock worth $1,596,000 after buying an additional 18,481 shares in the last quarter. Berkshire Asset Management LLC PA raised its stake in Nucor by 49.1% in the third quarter. Berkshire Asset Management LLC PA now owns 230,408 shares of the basic materials company’s stock worth $12,912,000 after buying an additional 75,899 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Nucor by 1.4% in the third quarter. Rhumbline Advisers now owns 559,037 shares of the basic materials company’s stock worth $31,328,000 after buying an additional 7,570 shares in the last quarter. 74.10% of the stock is owned by institutional investors.
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Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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