Insider Selling: Nucor (NYSE:NUE) EVP Sells $1,044,080.00 in Stock

Nucor Corporation (NYSE:NUE) EVP Thomas Batterbee sold 4,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the sale, the executive vice president owned 16,138 shares in the company, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Nucor Trading Up 0.3%

NUE opened at $272.89 on Friday. The stock has a market capitalization of $62.15 billion, a P/E ratio of 21.76, a P/E/G ratio of 0.60 and a beta of 1.89. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. The firm’s fifty day simple moving average is $245.67 and its 200 day simple moving average is $210.80.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The firm had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the prior year, the firm posted $2.60 EPS. The business’s revenue was up 23.0% on a year-over-year basis. As a group, research analysts anticipate that Nucor Corporation will post 18.02 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is 17.86%.

Hedge Funds Weigh In On Nucor

Several institutional investors and hedge funds have recently made changes to their positions in NUE. Vanguard Group Inc. grew its holdings in Nucor by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock valued at $4,633,554,000 after buying an additional 144,038 shares in the last quarter. BlackRock Inc. bought a new position in Nucor during the 2nd quarter worth $4,452,563,000. Morgan Stanley lifted its holdings in shares of Nucor by 1.1% during the fourth quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after buying an additional 41,728 shares in the last quarter. Norges Bank bought a new stake in shares of Nucor in the fourth quarter valued at about $609,002,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Nucor by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock valued at $429,298,000 after acquiring an additional 22,718 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Bank of America reduced their target price on Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Citigroup reissued a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. UBS Group raised their price target on Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings raised shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 14th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Nucor has an average rating of “Moderate Buy” and an average target price of $273.31.

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.