Nucor Co. (NYSE:NUE) EVP Sells $1,321,200.00 in Stock

Nucor Co. (NYSE:NUE) EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the sale, the executive vice president now owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Nucor Stock Down 1.0 %

Shares of NYSE:NUE traded down $1.38 during midday trading on Thursday, hitting $141.32. The stock had a trading volume of 341,534 shares, compared to its average volume of 1,499,543. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The business’s 50-day simple moving average is $147.73 and its 200-day simple moving average is $157.50. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The company has a market cap of $33.54 billion, a P/E ratio of 13.79 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company’s revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.57 earnings per share. On average, sell-side analysts forecast that Nucor Co. will post 8.65 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.53%. Nucor’s dividend payout ratio is currently 20.87%.

Analyst Ratings Changes

A number of brokerages have recently commented on NUE. Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Morgan Stanley cut their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets cut their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and an average target price of $190.57.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NUE. GPS Wealth Strategies Group LLC increased its holdings in Nucor by 4.1% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock worth $258,000 after purchasing an additional 64 shares during the period. Chilton Capital Management LLC raised its holdings in Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after buying an additional 65 shares during the period. Aptus Capital Advisors LLC lifted its holdings in Nucor by 2.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company’s stock worth $546,000 after buying an additional 71 shares in the last quarter. Brighton Jones LLC grew its position in shares of Nucor by 3.3% in the 2nd quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock valued at $351,000 after buying an additional 71 shares during the last quarter. Finally, Salomon & Ludwin LLC lifted its stake in shares of Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 72 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.