Nucor (NYSE:NUE) EVP Daniel Needham Sells 3,881 Shares

Nucor Corporation (NYSE:NUE) EVP Daniel Needham sold 3,881 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $178.00, for a total value of $690,818.00. Following the completion of the transaction, the executive vice president directly owned 88,298 shares in the company, valued at approximately $15,717,044. This trade represents a 4.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Nucor Stock Up 2.7%

NYSE NUE traded up $4.82 on Tuesday, reaching $185.78. 911,278 shares of the stock traded hands, compared to its average volume of 1,866,860. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $188.92. The company has a market cap of $42.52 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 0.97 and a beta of 1.86. The company has a fifty day moving average price of $166.99 and a 200-day moving average price of $151.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The business had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the business posted $1.22 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, research analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.56 per share. This is an increase from Nucor’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, December 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

Analyst Ratings Changes

Several brokerages have recently commented on NUE. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a report on Monday, December 29th. BNP Paribas Exane lifted their price target on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Wells Fargo & Company lifted their price objective on Nucor from $176.00 to $184.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. raised their target price on shares of Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, December 5th. Finally, UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 target price on the stock. in a research note on Wednesday, January 28th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.36.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Krilogy Financial LLC lifted its position in Nucor by 4.1% in the fourth quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock worth $272,000 after purchasing an additional 61 shares during the period. RFG Advisory LLC grew its holdings in shares of Nucor by 2.9% during the second quarter. RFG Advisory LLC now owns 2,462 shares of the basic materials company’s stock valued at $319,000 after buying an additional 69 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of Nucor by 3.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 2,011 shares of the basic materials company’s stock worth $328,000 after purchasing an additional 69 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of Nucor by 5.6% during the 3rd quarter. Whittier Trust Co. now owns 1,330 shares of the basic materials company’s stock valued at $184,000 after acquiring an additional 70 shares in the last quarter. Finally, IMA Advisory Services Inc. grew its stake in shares of Nucor by 51.4% in the 2nd quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock valued at $29,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

About Nucor

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.