Insider Selling: Nucor (NYSE:NUE) EVP Sells $7,462,455.56 in Stock

Nucor Corporation (NYSE:NUE) EVP David Sumoski sold 33,068 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $225.67, for a total value of $7,462,455.56. Following the sale, the executive vice president owned 243,339 shares of the company’s stock, valued at approximately $54,914,312.13. The trade was a 11.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Nucor Price Performance

NUE opened at $234.30 on Thursday. The company has a fifty day moving average price of $183.07 and a two-hundred day moving average price of $170.61. The firm has a market capitalization of $53.34 billion, a PE ratio of 23.20, a P/E/G ratio of 0.67 and a beta of 1.87. Nucor Corporation has a 52 week low of $106.21 and a 52 week high of $235.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90.

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 analysts’ consensus estimates of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, analysts anticipate that Nucor Corporation will post 13.64 earnings per share for the current year.

Nucor declared that its Board of Directors has initiated a share buyback program on Friday, February 20th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 9.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Nucor Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NUE shares. Seaport Research Partners reiterated a “buy” rating and issued a $245.00 price target on shares of Nucor in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of Nucor from $212.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Wall Street Zen raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Citigroup increased their target price on shares of Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company lifted their price target on shares of Nucor from $213.00 to $244.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $243.80.

More Nucor News

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Analyst upgrades and higher targets lift sentiment — several firms have raised price targets (BNP Paribas Exane raised to $248 and kept an “outperform”), supporting upside expectations for the stock. BNP Paribas raises price target
• Positive Sentiment: Quarterly beat and revenue strength — Nucor reported better?than?expected Q1 EPS ($3.23 vs. $2.82 est.) and ~21% YoY revenue growth, which underpins the analyst upgrades and improves near?term earnings visibility.
• Positive Sentiment: Share repurchase and dividend support capital returns — the board authorized a $4.0B buyback (?9.7% of shares) and the company pays a growing quarterly dividend, both shareholder?friendly moves that can sustain buy?side interest.
• Neutral Sentiment: Solid balance sheet and institutional ownership — modest leverage (D/E ~0.30), healthy liquidity ratios and ~76% institutional ownership reduce downside from headline noise but can limit volatile flows.
• Negative Sentiment: Large insider sales — EVP David Sumoski sold 33,068 shares (~$7.46M) on Apr 30. Form 4 — Sumoski
• Negative Sentiment: Additional insider trimming — EVP Daniel R. Needham sold 12,888 shares on May 1. Form 4 — Needham
• Negative Sentiment: More insider sales — EVP Noah C. Hanners sold 6,472 shares on May 1. Form 4 — Hanners
• Negative Sentiment: Other recent executive sales — Allen C. Behr (10,096 shares) and Michael D. Keller (4,554 shares) also sold shares in early May, further increasing headline selling. Form 4 — Behr Form 4 — Keller

Institutional Trading of Nucor

Large investors have recently bought and sold shares of the business. Stance Capital LLC acquired a new position in shares of Nucor in the third quarter valued at approximately $25,000. Strive Financial Group LLC acquired a new stake in shares of Nucor during the fourth quarter worth $27,000. Motiv8 Investments LLC acquired a new stake in shares of Nucor during the fourth quarter worth $32,000. Bartlett & CO. Wealth Management LLC lifted its position in Nucor by 49.2% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 63 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. bought a new stake in Nucor in the 4th quarter valued at $32,000. 76.48% of the stock is owned by institutional investors.

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.