Insider Selling: Nucor (NYSE:NUE) EVP Sells 4,000 Shares

Nucor Corporation (NYSE:NUE) EVP Thomas Batterbee sold 4,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the sale, the executive vice president directly owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nucor Stock Performance

NUE traded down $0.10 during trading on Wednesday, hitting $273.94. 1,231,874 shares of the company traded hands, compared to its average volume of 1,624,829. Nucor Corporation has a one year low of $131.32 and a one year high of $280.11. The stock’s fifty day moving average is $244.19 and its 200 day moving average is $208.98. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The firm has a market cap of $62.39 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 0.58 and a beta of 1.89.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same period in the previous year, the company earned $2.60 earnings per share. The company’s quarterly revenue was up 23.0% on a year-over-year basis. As a group, equities analysts predict that Nucor Corporation will post 17.84 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 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 Tuesday, June 30th. Nucor’s dividend payout ratio is 17.86%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NUE. Bank of America dropped their price target on Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. BMO Capital Markets boosted their price objective on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Citigroup reiterated a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Twelve investment 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 presently has a consensus rating of “Moderate Buy” and an average target price of $273.31.

Institutional Investors Weigh In On Nucor

Several hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Nucor by 745.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock worth $13,614,000 after purchasing an additional 73,588 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Nucor by 19.3% during the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock valued at $86,297,000 after acquiring an additional 82,668 shares during the period. Oak Harvest Investment Services bought a new position in Nucor during the 4th quarter worth approximately $6,329,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Nucor by 21.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,371 shares of the basic materials company’s stock worth $7,400,000 after purchasing an additional 8,097 shares during the period. Finally, Pacific Heights Asset Management LLC lifted its position in Nucor by 12.9% in the fourth quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock valued at $28,544,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

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.