Nucor (NYSE:NUE) EVP Noah Hanners Sells 5,190 Shares of Company Stock

Nucor Corporation (NYSE:NUE) EVP Noah Hanners sold 5,190 shares of the firm’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $275.03, for a total value of $1,427,405.70. Following the completion of the transaction, the executive vice president directly owned 44,073 shares in the company, valued at approximately $12,121,397.19. This represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Nucor Price Performance

NYSE NUE opened at $273.47 on Friday. The business’s fifty day moving average is $253.79 and its 200 day moving average is $223.43. Nucor Corporation has a fifty-two week low of $140.93 and a fifty-two week high of $280.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.46. The company has a market capitalization of $62.04 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 0.68 and a beta of 1.84.

Nucor (NYSE:NUE) last posted its quarterly earnings data 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 return on equity of 15.53% and a net margin of 9.26%. The company had revenue of $11.25 billion during the quarter, compared to the consensus estimate of $10.84 billion. During the same period last year, the business earned $2.63 EPS. The firm’s quarterly revenue was up 32.0% compared to the same quarter last year. Sell-side analysts predict that Nucor Corporation will post 19.61 earnings per share for the current year.

Nucor Announces Dividend

The company also recently declared 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 is Wednesday, September 30th. Nucor’s dividend payout ratio (DPR) is currently 14.26%.

Institutional Trading of Nucor

Institutional investors and hedge funds have recently made changes to their positions in the business. Sound Financial Strategies Group LLC grew its stake in shares of Nucor by 16.5% in the third quarter. Sound Financial Strategies Group LLC now owns 1,840 shares of the basic materials company’s stock worth $430,000 after acquiring an additional 261 shares in the last quarter. Ascent Group LLC raised its stake in shares of Nucor by 13.4% in the third quarter. Ascent Group LLC now owns 1,124 shares of the basic materials company’s stock valued at $263,000 after acquiring an additional 133 shares in the last quarter. Rakuten Investment Management Inc. boosted its holdings in Nucor by 9.4% in the third quarter. Rakuten Investment Management Inc. now owns 40,407 shares of the basic materials company’s stock valued at $9,546,000 after purchasing an additional 3,483 shares during the period. Provenance Wealth Advisors LLC purchased a new position in Nucor in the third quarter valued at $47,000. Finally, Putney Financial Group LLC boosted its holdings in Nucor by 8.2% in the third quarter. Putney Financial Group LLC now owns 3,050 shares of the basic materials company’s stock valued at $713,000 after purchasing an additional 231 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on NUE shares. Zacks Research raised shares of Nucor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $335.00 price objective on shares of Nucor in a research note on Wednesday. Barclays upped their price target on shares of Nucor from $306.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets increased their target price on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley set a $270.00 target price on shares of Nucor in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $284.00.

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.