Nucor Co. (NYSE:NUE) CFO James D. Frias sold 52,631 shares of the stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $62.57, for a total value of $3,293,121.67. Following the completion of the sale, the chief financial officer now directly owns 174,037 shares of the company’s stock, valued at $10,889,495.09. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Nucor Co. (NYSE:NUE) opened at 64.67 on Tuesday. The stock’s 50 day moving average price is $61.40 and its 200 day moving average price is $56.56. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 26.06 and a beta of 1.45. Nucor Co. has a 12 month low of $44.81 and a 12 month high of $68.00.
Nucor (NYSE:NUE) last released its quarterly earnings results on Tuesday, January 31st. The company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.16. Nucor had a return on equity of 9.32% and a net margin of 4.53%. The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the company posted $0.46 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. Analysts expect that Nucor Co. will post $3.75 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 11th. Investors of record on Friday, March 31st will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $1.51 annualized dividend and a dividend yield of 2.34%. Nucor’s dividend payout ratio is presently 65.94%.
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Several large investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP purchased a new position in shares of Nucor during the fourth quarter worth approximately $107,000. Blue Chip Partners Inc. purchased a new position in shares of Nucor during the second quarter worth approximately $102,000. TCI Wealth Advisors Inc. raised its position in shares of Nucor by 3.5% in the third quarter. TCI Wealth Advisors Inc. now owns 2,070 shares of the company’s stock worth $102,000 after buying an additional 70 shares in the last quarter. Massmutual Trust Co. FSB ADV purchased a new position in shares of Nucor during the fourth quarter worth approximately $127,000. Finally, Parallel Advisors LLC purchased a new position in shares of Nucor during the fourth quarter worth approximately $150,000. Institutional investors own 76.41% of the company’s stock.
A number of equities research analysts recently commented on the company. Barclays PLC increased their price target on Nucor from $63.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, February 6th. Jefferies Group LLC reissued a “buy” rating and issued a $77.00 price target on shares of Nucor in a research report on Tuesday, January 10th. Zacks Investment Research lowered Nucor from a “buy” rating to a “hold” rating in a research report on Monday, February 6th. Morgan Stanley raised Nucor from an “equal weight” rating to an “overweight” rating and set a $78.00 price target for the company in a research report on Monday, February 13th. Finally, Berenberg Bank lowered Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $63.86.
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.
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