Nucor (NYSE:NUE) Stock: Insider Michael Keller Sells 1,136 Shares

Nucor Corporation (NYSE:NUE) insider Michael Keller sold 1,136 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $279.33, for a total transaction of $317,318.88. Following the completion of the transaction, the insider owned 15,588 shares of the company’s stock, valued at $4,354,196.04. This represents a 6.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nucor Stock Down 2.1%

Shares of NYSE NUE opened at $267.85 on Thursday. The stock has a market capitalization of $60.77 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 0.67 and a beta of 1.81. Nucor Corporation has a 52 week low of $140.93 and a 52 week high of $287.70. The firm has a 50-day moving average price of $255.45 and a 200 day moving average price of $224.94. The company has a quick ratio of 1.43, a current ratio of 2.46 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 26th. The basic materials company reported $5.80 earnings per share 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 for the quarter, compared to analyst estimates of $10.84 billion. During the same quarter in the previous year, the company posted $2.63 earnings per share. The company’s quarterly revenue was up 32.0% compared to the same quarter last year. Equities research analysts anticipate that Nucor Corporation will post 19.61 EPS for the current fiscal year.

Nucor Announces Dividend

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

Wall Street Analyst Weigh In

NUE has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on Nucor from $280.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. KeyCorp upped their target price on Nucor from $286.00 to $301.00 and gave the company an “overweight” rating in a report on Wednesday. Morgan Stanley set a $270.00 price target on Nucor in a research report on Wednesday, July 29th. Citigroup reaffirmed a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. Finally, Freedom Broker upgraded shares of Nucor from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $285.00 to $304.00 in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.38.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Transamerica Financial Advisors LLC acquired a new position in Nucor during the 2nd quarter worth $25,000. GK Wealth Management LLC acquired a new stake in shares of Nucor in the 3rd quarter valued at about $28,000. Next Level Wealth Planning LLC acquired a new stake in shares of Nucor in the 3rd quarter valued at about $28,000. Manning & Napier Advisors LLC bought a new position in shares of Nucor during the second quarter worth about $27,000. Finally, Bell Investment Advisors Inc acquired a new position in Nucor in the second quarter worth about $28,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Key Nucor News

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: KeyCorp raised its price target to $301 from $286 and maintained an Overweight rating. CFRA also upgraded Nucor from Strong Sell to Hold, a less pessimistic view. Analyst ratings
• Positive Sentiment: Recent quarterly results showed revenue up 32% year over year and ahead of estimates, though EPS narrowly missed consensus. Steady guidance, moderating capital spending and strong cash flow are also supporting shareholder returns, including buybacks and dividends. Nucor: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Nucor has shown strong relative strength over the past month, but the latest pullback followed a substantial recent share-price advance and a move near its 52-week high. Stocks Showing Impressive Relative Strength
• Negative Sentiment: Several insiders have recently sold shares. COO Stephen Laxton sold 10,560 shares, reducing his position by 11.94%; EVP Allen Behr and insider Michael Keller also disclosed sales. Such transactions can add caution, although they do not necessarily signal a change in the company’s outlook. SEC filing for Stephen Laxton sale
• Negative Sentiment: Nucor fell sharply in the latest session, with the decline reported to have erased about $3 billion in market value. The available report describes the selloff but does not identify a specific catalyst. Nucor Drops 5.4% in a Single Session

Nucor Company Profile

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.