Nucor (NYSE:NUE) Insider Michael Keller Sells 1,136 Shares of Company Stock

Nucor Corporation (NYSE:NUE) insider Michael Keller sold 1,136 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $279.33, for a total transaction of $317,318.88. Following the transaction, the insider owned 15,588 shares in the company, valued at approximately $4,354,196.04. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Nucor Stock Performance

Shares of NUE stock opened at $273.38 on Wednesday. The firm has a market cap of $62.03 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 0.68 and a beta of 1.81. The company’s 50 day moving average is $255.05 and its 200 day moving average is $224.47. The company has a quick ratio of 1.43, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. Nucor Corporation has a 52-week low of $140.93 and a 52-week high of $287.70.

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

Nucor Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NUE. Citigroup reaffirmed a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. Wall Street Zen lowered Nucor from a “strong-buy” rating to a “buy” rating in a research note on Saturday. KeyCorp reduced their target price on shares of Nucor from $288.00 to $286.00 and set an “overweight” rating for the company in a report on Monday, October 5th. UBS Group increased their price target on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. increased their price target on shares of Nucor from $296.00 to $304.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. One research 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $286.44.

Hedge Funds Weigh In On Nucor

Several institutional investors and hedge funds have recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new position in Nucor in the 3rd quarter worth about $2,672,000. Brighton Jones LLC grew its holdings in Nucor by 1.1% in the third quarter. Brighton Jones LLC now owns 10,080 shares of the basic materials company’s stock valued at $2,356,000 after purchasing an additional 114 shares during the period. Candriam S.C.A. grew its holdings in Nucor by 33.1% in the third quarter. Candriam S.C.A. now owns 23,624 shares of the basic materials company’s stock valued at $5,542,000 after purchasing an additional 5,876 shares during the period. Uhlmann Price Securities LLC increased its position in shares of Nucor by 42.7% in the third quarter. Uhlmann Price Securities LLC now owns 2,845 shares of the basic materials company’s stock valued at $665,000 after buying an additional 851 shares in the last quarter. Finally, Ethic Inc. increased its position in shares of Nucor by 1.8% in the third quarter. Ethic Inc. now owns 25,144 shares of the basic materials company’s stock valued at $5,877,000 after buying an additional 434 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Key Nucor News

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Nucor’s third-quarter revenue rose 32% year over year to $11.25 billion, topping estimates, while earnings per share of $5.80 came in just below consensus. Fourth-quarter guidance was described as steady to slightly better than recent results. Article: Nucor Could Be 5% Undervalued After Strong Earnings And Steady Guidance
• Positive Sentiment: A strong balance sheet and cash flow are supporting shareholder returns—reported at $1.36 billion—and leave room for continued investment, buybacks and dividend growth. Article: Can NUE’s Strong Balance Sheet Power Bigger Shareholder Returns Ahead?
• Neutral Sentiment: Despite the quarterly EPS miss, revenue exceeded expectations, and the results point to substantial year-over-year improvement. The mixed beat-and-miss may temper the otherwise positive earnings read-through.
• Negative Sentiment: Two executives recently disclosed stock sales: EVP Allen Behr sold 11,846 shares, reducing his holdings by 16.95%, and Michael Keller sold 1,136 shares, trimming his position by 6.79%. Insider sales can be planned or personal, but may add near-term caution among investors. SEC filing for Allen Behr sale SEC filing for Michael Keller sale

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.