Nucor (NYSE:NUE) COO Stephen Laxton Sells 10,560 Shares of Company Stock

Nucor Corporation (NYSE:NUE) COO Stephen Laxton sold 10,560 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $274.98, for a total transaction of $2,903,788.80. Following the transaction, the chief operating officer directly owned 77,867 shares in the company, valued at $21,411,867.66. The trade was a 11.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Nucor Trading Down 2.1%

Nucor stock opened at $267.85 on Thursday. The company’s fifty day simple moving average is $255.45 and its 200-day simple moving average is $224.94. The company has a quick ratio of 1.43, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. Nucor Corporation has a 12 month low of $140.93 and a 12 month high of $287.70. The stock has a market cap of $60.77 billion, a P/E ratio of 17.05, a P/E/G ratio of 0.67 and a beta of 1.81.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, October 26th. The basic materials company reported $5.80 earnings per share for the quarter, missing analysts’ consensus estimates of $5.84 by ($0.04). The firm had revenue of $11.25 billion for the quarter, compared to analysts’ expectations of $10.84 billion. Nucor had a return on equity of 15.53% and a net margin of 9.26%. The firm’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same period last year, the business earned $2.63 earnings per share. As a group, sell-side analysts forecast that Nucor Corporation will post 19.61 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.56 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.8%. Nucor’s dividend payout ratio (DPR) is currently 14.26%.

Wall Street Analyst Weigh In

Several research firms have commented on NUE. Freedom Broker raised shares of Nucor from a “hold” rating to a “buy” rating and increased their target price for the stock from $285.00 to $304.00 in a research report on Friday, October 30th. Morgan Stanley set a $270.00 price target on Nucor in a research report on Wednesday, July 29th. BMO Capital Markets upped their price target on Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Wall Street Zen lowered Nucor from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Finally, Cfra raised Nucor from a “strong sell” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $287.38.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Csenge Advisory Group bought a new stake in shares of Nucor during the third quarter worth about $237,000. 71 West Capital Partners raised its position in shares of Nucor by 2.8% in the 3rd quarter. 71 West Capital Partners now owns 5,847 shares of the basic materials company’s stock worth $1,367,000 after acquiring an additional 160 shares in the last quarter. Montis Financial LLC acquired a new position in shares of Nucor in the 3rd quarter valued at about $206,000. Gryphon Financial Partners LLC acquired a new stake in Nucor during the third quarter worth approximately $209,000. Finally, Fulcrum Asset Management LLP lifted its stake in Nucor by 10,885.7% in the third quarter. Fulcrum Asset Management LLP now owns 1,538 shares of the basic materials company’s stock valued at $363,000 after buying an additional 1,524 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Nucor

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: KeyCorp raised its price target to $301 from $286 and maintained an Overweight rating. CFRA also upgraded Nucor from Strong Sell to Hold, a less pessimistic view. Analyst ratings
• Positive Sentiment: Recent quarterly results showed revenue up 32% year over year and ahead of estimates, though EPS narrowly missed consensus. Steady guidance, moderating capital spending and strong cash flow are also supporting shareholder returns, including buybacks and dividends. Nucor: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Nucor has shown strong relative strength over the past month, but the latest pullback followed a substantial recent share-price advance and a move near its 52-week high. Stocks Showing Impressive Relative Strength
• Negative Sentiment: Several insiders have recently sold shares. COO Stephen Laxton sold 10,560 shares, reducing his position by 11.94%; EVP Allen Behr and insider Michael Keller also disclosed sales. Such transactions can add caution, although they do not necessarily signal a change in the company’s outlook. SEC filing for Stephen Laxton sale
• Negative Sentiment: Nucor fell sharply in the latest session, with the decline reported to have erased about $3 billion in market value. The available report describes the selloff but does not identify a specific catalyst. Nucor Drops 5.4% in a Single Session

About Nucor

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.