Nucor Co. (NYSE:NUE) EVP Allen C. Behr Sells 4,968 Shares of Stock

Nucor Co. (NYSE:NUE) EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the sale, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nucor Trading Down 1.1 %

NYSE:NUE opened at $152.22 on Thursday. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The stock has a market cap of $35.74 billion, a price-to-earnings ratio of 14.71 and a beta of 1.55. The company’s 50 day moving average price is $148.37 and its 200-day moving average price is $155.24. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last announced its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same period in the previous year, the business earned $4.57 EPS. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, equities research analysts forecast that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.42%. Nucor’s payout ratio is 20.87%.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of recent research reports. BMO Capital Markets cut their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley decreased their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $190.57.

Hedge Funds Weigh In On Nucor

Several hedge funds have recently modified their holdings of NUE. McClarren Financial Advisors Inc. grew its position in shares of Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after buying an additional 89 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Nucor during the third quarter valued at $26,000. Coastline Trust Co acquired a new position in Nucor in the 3rd quarter worth approximately $29,000. Brown Lisle Cummings Inc. acquired a new position in Nucor during the third quarter valued at $30,000. Finally, HHM Wealth Advisors LLC grew its holdings in Nucor by 769.2% during the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.