Nucor (NYSE:NUE) EVP Noah Hanners Sells 6,472 Shares

Nucor Corporation (NYSE:NUE) EVP Noah Hanners sold 6,472 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the completion of the sale, the executive vice president directly owned 50,377 shares of the company’s stock, valued at approximately $11,410,390.50. This trade represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Nucor Price Performance

Shares of NUE stock opened at $232.11 on Wednesday. The company has a market capitalization of $52.84 billion, a P/E ratio of 22.98, a P/E/G ratio of 0.65 and a beta of 1.87. The company’s 50-day simple moving average is $181.96 and its two-hundred day simple moving average is $169.89. Nucor Corporation has a one year low of $106.21 and a one year high of $233.74. 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 (NYSE:NUE) last posted its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. As a group, equities analysts anticipate that Nucor Corporation will post 13.64 EPS for the current year.

Nucor announced that its Board of Directors has authorized a stock repurchase program on Friday, February 20th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Nucor’s dividend payout ratio is presently 22.18%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and increased their price target for the company from $190.00 to $224.00 in a research report on Tuesday, April 28th. BMO Capital Markets boosted their price objective on shares of Nucor from $196.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Citigroup raised their target price on shares of Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Jefferies Financial Group lifted their price target on shares of Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. upped their price target on Nucor from $212.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Eight investment 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $243.80.

Hedge Funds Weigh In On Nucor

Several hedge funds have recently made changes to their positions in NUE. Integrated Wealth Concepts LLC lifted its holdings in shares of Nucor by 21.1% during the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 568 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Nucor during the 1st quarter worth approximately $259,000. Geneos Wealth Management Inc. lifted its stake in Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Nucor in the 2nd quarter valued at $390,000. Finally, Cerity Partners LLC boosted its holdings in shares of Nucor by 51.9% in the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after acquiring an additional 13,877 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor News Roundup

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Analyst upgrades and higher targets — BNP Paribas Exane raised its price target to $248 and kept an “outperform” rating; other firms (Citigroup, Jefferies, Seaport) have also lifted targets recently, supporting upside expectations.
• Positive Sentiment: Strong earnings push — Nucor beat Q1 estimates (EPS $3.23 vs. $2.82 expected) and reported revenue growth of ~21% YoY, which underpins analyst upgrades and higher valuations.
• Positive Sentiment: Buybacks and dividend support — board authorized a $4.0B share?repurchase program and the company pays a dividend (annualized $2.24), both of which are shareholder?friendly capital allocation moves that can lift the stock.
• Neutral Sentiment: Institutional ownership & fundamentals — ~76% institutional ownership, modest leverage (D/E ~0.30) and solid liquidity ratios; these factors reduce headline volatility but limit surprise flows.
• Negative Sentiment: Insider sale — EVP David A. Sumoski sold 33,068 shares at about $225.67 on Apr 30, reducing his position by ~12%. Form 4 — Sumoski
• Negative Sentiment: Insider sale — EVP Daniel R. Needham sold 12,888 shares at about $226.00 on May 1, trimming his stake by ~12.6%. Form 4 — Needham
• Negative Sentiment: Insider sale — EVP Noah C. Hanners sold 6,472 shares at about $226.50 on May 1, an ~11.4% ownership reduction for him. Form 4 — Hanners

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.