Nucor (NYSE:NUE) EVP Daniel Needham Sells 3,881 Shares of Stock

Nucor Corporation (NYSE:NUE) EVP Daniel Needham sold 3,881 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $178.00, for a total value of $690,818.00. Following the completion of the sale, the executive vice president directly owned 88,298 shares in the company, valued at $15,717,044. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Nucor Price Performance

Shares of NYSE:NUE opened at $186.78 on Wednesday. Nucor Corporation has a one year low of $97.59 and a one year high of $188.92. 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 company has a market cap of $42.75 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 0.66 and a beta of 1.86. The firm has a 50 day simple moving average of $167.60 and a 200 day simple moving average of $151.40.

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). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the business earned $1.22 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. Research analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Investors of record on Wednesday, December 31st will be paid a $0.56 dividend. This is a positive change from Nucor’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Nucor’s payout ratio is presently 29.71%.

Hedge Funds Weigh In On Nucor

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Krilogy Financial LLC raised its stake in Nucor by 4.1% during the 4th quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock worth $272,000 after buying an additional 61 shares during the period. RFG Advisory LLC increased its holdings in shares of Nucor by 2.9% during the second quarter. RFG Advisory LLC now owns 2,462 shares of the basic materials company’s stock valued at $319,000 after acquiring an additional 69 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Nucor by 3.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,011 shares of the basic materials company’s stock worth $328,000 after purchasing an additional 69 shares during the period. Whittier Trust Co. lifted its holdings in shares of Nucor by 5.6% in the 3rd quarter. Whittier Trust Co. now owns 1,330 shares of the basic materials company’s stock worth $184,000 after purchasing an additional 70 shares in the last quarter. Finally, IMA Advisory Services Inc. lifted its holdings in shares of Nucor by 51.4% in the 2nd quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

NUE has been the topic of several recent research reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $180.00 target price (up from $165.00) on shares of Nucor in a report on Friday, January 9th. Wall Street Zen upgraded Nucor from a “hold” rating to a “buy” rating in a research report on Saturday. Seaport Research Partners lifted their price objective on Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. Finally, BNP Paribas Exane raised their price target on shares of Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Nucor has an average rating of “Moderate Buy” and an average price target 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.