Nucor (NYSE:NUE) EVP Kenneth Rex Query Sells 7,452 Shares

Nucor Corporation (NYSE:NUE) EVP Kenneth Rex Query sold 7,452 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the sale, the executive vice president directly owned 76,628 shares in the company, valued at $15,020,620.56. This represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nucor Stock Performance

NYSE:NUE opened at $182.97 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. The firm has a market cap of $41.87 billion, a PE ratio of 24.27, a P/E/G ratio of 0.68 and a beta of 1.86. The firm has a 50 day simple moving average of $172.29 and a 200-day simple moving average of $153.86. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $196.90.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18). The firm had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.The firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. On average, equities analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, December 31st were given a $0.56 dividend. This is an increase from Nucor’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.24 annualized dividend and a dividend yield of 1.2%. Nucor’s dividend payout ratio is 29.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Nucor from $176.00 to $184.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Citigroup boosted their price objective on shares of Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Jefferies Financial Group raised their target price on shares of Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, January 12th. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 target price on the stock. in a report on Wednesday, January 28th. Finally, Seaport Research Partners increased their price target on Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.36.

Hedge Funds Weigh In On Nucor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stance Capital LLC acquired a new position in shares of Nucor in the third quarter worth about $25,000. IMA Advisory Services Inc. increased its holdings in Nucor by 51.4% during the 2nd quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 75 shares during the last quarter. AXS Investments LLC acquired a new position in shares of Nucor in the 3rd quarter valued at approximately $37,000. Vision Financial Markets LLC boosted its stake in shares of Nucor by 281.7% during the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after buying an additional 200 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Nucor during the second quarter worth approximately $39,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

About Nucor

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.