Nucor (NYSE:NUE) Stock: Insider Allen Behr Sells 11,846 Shares

Nucor Corporation (NYSE:NUE) EVP Allen Behr sold 11,846 shares of the business’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $272.90, for a total transaction of $3,232,773.40. Following the completion of the sale, the executive vice president directly owned 58,022 shares of the company’s stock, valued at approximately $15,834,203.80. The trade was a 16.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Nucor Stock Performance

Shares of NUE stock traded up $3.87 on Monday, hitting $277.74. The company’s stock had a trading volume of 1,754,399 shares, compared to its average volume of 1,542,270. Nucor Corporation has a fifty-two week low of $140.93 and a fifty-two week high of $287.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.43 and a current ratio of 2.46. The stock’s 50 day moving average is $253.79 and its 200-day moving average is $223.43. The company has a market capitalization of $63.01 billion, a PE ratio of 17.68, a PEG ratio of 0.67 and a beta of 1.81.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, October 26th. The basic materials company reported $5.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.84 by ($0.04). Nucor had a net margin of 9.26% and a return on equity of 15.53%. The business had revenue of $11.25 billion during the quarter, compared to the consensus estimate of $10.84 billion. During the same period in the prior year, the firm earned $2.63 EPS. The business’s revenue for the quarter was up 32.0% on a year-over-year basis. Equities research analysts expect that Nucor Corporation will post 19.61 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. Nucor’s dividend payout ratio is currently 14.26%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Nucor from $280.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Zacks Research upgraded Nucor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. Piper Sandler set a $304.00 price target on Nucor in a research report on Friday. KeyCorp dropped their price target on Nucor from $288.00 to $286.00 and set an “overweight” rating for the company in a research note on Monday, October 5th. Finally, Wedbush set a $304.00 price objective on shares of Nucor in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $286.44.

Hedge Funds Weigh In On Nucor

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Nucor in the second quarter worth about $4,452,563,000. Bank of America Corp DE bought a new stake in shares of Nucor during the 2nd quarter valued at approximately $462,886,000. Berkshire Hathaway Inc acquired a new position in Nucor during the 2nd quarter worth approximately $413,814,000. Bank of New York Mellon Corp acquired a new position in Nucor during the 2nd quarter worth approximately $330,902,000. Finally, Legal & General Group Plc acquired a new position in Nucor during the 2nd quarter worth approximately $324,154,000. Institutional investors own 76.48% of the company’s stock.

About Nucor

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.