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

Nucor Corporation (NYSE:NUE) EVP Allen Behr sold 11,846 shares of the company’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $272.90, for a total transaction of $3,232,773.40. Following the transaction, the executive vice president owned 58,022 shares in the company, valued at approximately $15,834,203.80. This trade represents a 16.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Nucor Price Performance

NUE traded up $3.87 during midday trading on Monday, hitting $277.74. The company had a trading volume of 1,754,399 shares, compared to its average volume of 1,542,270. Nucor Corporation has a twelve month low of $140.93 and a twelve month high of $287.70. The company has a market capitalization of $63.01 billion, a PE ratio of 17.68, a P/E/G ratio of 0.67 and a beta of 1.81. 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 firm’s 50-day simple moving average is $253.79 and its 200-day simple moving average is $223.43.

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

Nucor Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Nucor from $306.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 28th. Weiss Ratings raised shares of Nucor from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 15th. JPMorgan Chase & Co. upped their target price 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. Citigroup reissued a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company raised their price target on Nucor from $280.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and an average target price of $286.44.

Institutional Investors Weigh In On Nucor

Large investors have recently modified their holdings of the business. Quest 10 Wealth Builders Inc. grew its holdings in shares of Nucor by 140.8% during the third quarter. Quest 10 Wealth Builders Inc. now owns 342 shares of the basic materials company’s stock worth $80,000 after buying an additional 200 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Nucor by 0.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 202,500 shares of the basic materials company’s stock worth $47,334,000 after acquiring an additional 1,495 shares during the last quarter. Pathway Financial Advisers LLC raised its position in shares of Nucor by 20.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,391 shares of the basic materials company’s stock valued at $325,000 after purchasing an additional 236 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in shares of Nucor by 3.9% during the third quarter. Chicago Partners Investment Group LLC now owns 2,046 shares of the basic materials company’s stock worth $528,000 after acquiring an additional 76 shares during the period. Finally, Sound Financial Strategies Group LLC increased its stake in shares of Nucor by 16.5% during the third quarter. Sound Financial Strategies Group LLC now owns 1,840 shares of the basic materials company’s stock worth $430,000 after purchasing an additional 261 shares during the period. 76.48% of the stock is currently owned by institutional investors.

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.