John Hollatz Sells 10,560 Shares of Nucor (NYSE:NUE) Stock

Nucor Corporation (NYSE:NUE) EVP John Hollatz sold 10,560 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the sale, the executive vice president owned 97,865 shares of the company’s stock, valued at $25,294,187.90. This represents a 9.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nucor Stock Down 3.1%

Shares of NYSE NUE opened at $254.14 on Friday. The company has a 50 day simple moving average of $213.65 and a 200-day simple moving average of $184.90. The company has a market capitalization of $57.88 billion, a P/E ratio of 25.16, a P/E/G ratio of 0.69 and a beta of 1.88. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. Nucor Corporation has a 1 year low of $115.66 and a 1 year high of $264.67.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. The business had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS. On average, equities research analysts predict that Nucor Corporation will post 14.84 earnings per share for the current year.

Nucor announced that its Board of Directors has initiated a share buyback program on Friday, February 20th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

NUE has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. raised their price target on shares of Nucor from $212.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Seaport Research Partners restated a “buy” rating and set a $245.00 price target on shares of Nucor in a report on Thursday, April 30th. BNP Paribas Exane lifted their target price on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Finally, Bank of America lifted their target price on shares of Nucor from $190.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $255.67.

Institutional Trading of Nucor

Several institutional investors have recently added to or reduced their stakes in the stock. DV Trading LLC increased its holdings in Nucor by 993.8% in the 1st quarter. DV Trading LLC now owns 1,400 shares of the basic materials company’s stock valued at $237,000 after purchasing an additional 1,272 shares during the last quarter. Parallel Advisors LLC increased its holdings in Nucor by 7.6% in the 1st quarter. Parallel Advisors LLC now owns 3,373 shares of the basic materials company’s stock valued at $570,000 after purchasing an additional 239 shares during the last quarter. First Nebraska Trust Co acquired a new position in shares of Nucor in the first quarter worth $13,789,000. Pathway Wealth Management LLC acquired a new position in shares of Nucor in the first quarter worth $207,000. Finally, Western Wealth Management LLC grew its stake in shares of Nucor by 41.7% in the first quarter. Western Wealth Management LLC now owns 4,378 shares of the basic materials company’s stock worth $740,000 after acquiring an additional 1,288 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

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.