Nucor (NYSE:NUE) COO Sells $1,019,617.28 in Stock

Nucor Corporation (NYSE:NUE) COO Stephen Laxton sold 3,968 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Nucor Stock Up 1.2%

Shares of NUE stock traded up $3.06 during trading hours on Monday, reaching $260.35. 345,293 shares of the company’s stock were exchanged, compared to its average volume of 1,621,023. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $270.90. The stock’s 50 day moving average is $242.94 and its 200-day moving average is $207.61. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The company has a market cap of $59.29 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 0.58 and a beta of 1.89.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The firm had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter last year, the firm earned $2.60 EPS. The business’s quarterly revenue was up 23.0% on a year-over-year basis. Analysts predict that Nucor Corporation will post 17.84 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, August 11th. Shareholders of record on Tuesday, June 30th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. Nucor’s dividend payout ratio (DPR) is currently 17.86%.

Hedge Funds Weigh In On Nucor

Institutional investors and hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC lifted its position in Nucor by 21.1% during the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after buying an additional 568 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Nucor during the 1st quarter worth $259,000. Geneos Wealth Management Inc. raised its holdings in shares of Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 153 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Nucor during the 2nd quarter valued at about $390,000. Finally, Cerity Partners LLC boosted its position in shares of Nucor by 51.9% during the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after acquiring an additional 13,877 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Citigroup reissued a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. UBS Group lifted their price target on Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. BNP Paribas Exane increased their price target on Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Argus raised their price objective on Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Bank of America cut their price objective on Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $273.31.

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.