Nucor (NYSE:NUE) EVP Sells $1,465,908.00 in Stock

Nucor Corporation (NYSE:NUE) EVP Noah Hanners sold 6,472 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Nucor Trading Down 3.3%

Shares of NYSE NUE opened at $226.60 on Friday. 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 Corporation has a 52-week low of $106.21 and a 52-week high of $235.44. The firm has a 50 day moving average price of $184.10 and a two-hundred day moving average price of $171.28. The stock has a market cap of $51.58 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 0.67 and a beta of 1.87.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) 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 analysts’ expectations of $8.88 billion. During the same period in the prior year, the company posted $0.77 EPS. The company’s revenue was up 21.3% on a year-over-year basis. As a group, equities analysts forecast that Nucor Corporation will post 13.64 EPS for the current year.

Nucor declared that its Board of Directors has initiated a stock buyback plan on Friday, February 20th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the basic materials company to purchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be given a $0.56 dividend. 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 22.18%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NUE shares. Wall Street Zen upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and upped their price objective for the company from $190.00 to $224.00 in a research note on Tuesday, April 28th. Morgan Stanley upped their price objective on shares of Nucor from $180.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group upped their price objective on shares of Nucor from $240.00 to $260.00 in a research note on Friday, May 1st. Finally, BMO Capital Markets upped their price objective on shares of Nucor from $196.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $243.80.

Institutional Investors Weigh In On Nucor

Institutional investors have recently modified their holdings of the company. Stance Capital LLC bought a new position in Nucor during the third quarter worth $25,000. Strive Financial Group LLC bought a new position in Nucor during the fourth quarter worth $27,000. Motiv8 Investments LLC bought a new position in Nucor during the fourth quarter worth $32,000. Bartlett & CO. Wealth Management LLC boosted its stake in Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 63 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. bought a new position in Nucor during the fourth quarter worth $32,000. 76.48% of the stock is owned by institutional investors.

Trending Headlines about Nucor

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Q1 beat and revenue strength — Nucor posted an EPS beat and ~21% YoY revenue growth, which improves near?term earnings visibility and supports higher analyst targets.
• Positive Sentiment: Share repurchase and dividend — the board authorized a $4.0B buyback (~9.7% of shares) and maintains a quarterly dividend ($0.56), both shareholder?friendly moves that can sustain buy?side interest. Buyback article
• Positive Sentiment: Analyst momentum — multiple brokers have raised price targets (consensus target ~$243.80), which supports upside expectations despite the rally. BNP Paribas raises price target
• Neutral Sentiment: Solid fundamentals & institutional ownership — modest leverage (D/E ~0.30), healthy liquidity and ~76% institutional ownership reduce the odds of a prolonged sell?off, though they also limit dramatic volatility in either direction.
• Negative Sentiment: Cluster of insider sales — several executives have sold sizeable positions in early May (including EVP David Sumoski, Daniel Needham, Noah Hanners, Allen Behr, Michael Keller). The concentration of sales is fueling headlines and likely prompted some intra?day selling pressure. See SEC filing for Sumoski. Form 4 — Sumoski
• Negative Sentiment: Broader insider?selling coverage — multiple outlets note the wave of insider trimming, which can be interpreted as executives locking gains after the steep one?year rally. TipRanks — insider sales summary InsiderTrades — Keller sale

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.