Randy Spicer Sells 2,500 Shares of Nucor (NYSE:NUE) Stock

Nucor Corporation (NYSE:NUE) EVP Randy Spicer sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $225.00, for a total transaction of $562,500.00. Following the completion of the transaction, the executive vice president directly owned 20,510 shares of the company’s stock, valued at approximately $4,614,750. This trade represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Nucor Stock Up 0.3%

NUE opened at $226.46 on Friday. The company has a 50 day moving average of $194.87 and a 200 day moving average of $177.19. The company has a market cap of $51.57 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 0.61 and a beta of 1.87. Nucor Corporation has a 12 month low of $106.21 and a 12 month high of $235.45. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.82 by $0.41. The company had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. Nucor’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the firm earned $0.77 EPS. On average, sell-side analysts expect that Nucor Corporation will post 14.58 EPS for the current year.

Nucor declared that its board has approved a stock buyback program on Friday, February 20th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Seaport Research Partners reissued a “buy” rating and issued a $245.00 price target on shares of Nucor in a report on Thursday, April 30th. Jefferies Financial Group raised their price target on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Bank of America raised their price target on shares of Nucor from $190.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, KeyCorp assumed coverage on shares of Nucor in a report on Wednesday, March 25th. They issued a “sector weight” rating for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $247.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NUE. Integrated Wealth Concepts LLC boosted its holdings in Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 568 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nucor during the 1st quarter valued at $259,000. Geneos Wealth Management Inc. raised its position 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 valued at $41,000 after buying an additional 153 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Nucor during the 2nd quarter valued at $390,000. Finally, Cerity Partners LLC raised 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 buying an additional 13,877 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

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.