Nucor Corporation (NYSE:NUE – Get Free Report) EVP Allen Behr sold 11,846 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $272.90, for a total transaction of $3,232,773.40. Following the transaction, the executive vice president owned 58,022 shares of the company’s stock, valued at approximately $15,834,203.80. This represents a 16.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Nucor Stock Down 1.5%
NYSE NUE opened at $273.38 on Wednesday. The business has a fifty day moving average price of $255.05 and a two-hundred day moving average price of $224.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.43. Nucor Corporation has a fifty-two week low of $140.93 and a fifty-two week high of $287.70. The stock has a market capitalization of $62.03 billion, a PE ratio of 17.40, a PEG ratio of 0.68 and a beta of 1.81.
Nucor (NYSE:NUE – Get Free Report) last issued its earnings results on Monday, October 26th. The basic materials company reported $5.80 earnings per share for the quarter, missing analysts’ consensus estimates of $5.84 by ($0.04). Nucor had a net margin of 9.26% and a return on equity of 15.53%. The business had revenue of $11.25 billion during the quarter, compared to analyst estimates of $10.84 billion. During the same period in the prior year, the business posted $2.63 EPS. The company’s revenue for the quarter was up 32.0% compared to the same quarter last year. Equities analysts expect that Nucor Corporation will post 19.61 earnings per share for the current fiscal year.
Nucor Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.24 annualized dividend and a yield of 0.8%. Nucor’s dividend payout ratio (DPR) is 14.26%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Morgan Stanley set a $270.00 target price on Nucor in a research report on Wednesday, July 29th. Freedom Broker raised shares of Nucor from a “hold” rating to a “buy” rating and increased their target price for the stock from $285.00 to $304.00 in a report on Friday, October 30th. Bank of America reduced their price target on shares of Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Piper Sandler set a $304.00 price target on shares of Nucor in a report on Friday. Finally, Weiss Ratings upgraded shares of Nucor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $286.44.
View Our Latest Stock Analysis on NUE
Nucor News Roundup
Here are the key news stories impacting Nucor this week:
- Positive Sentiment: Nucor’s third-quarter revenue rose 32% year over year to $11.25 billion, topping estimates, while earnings per share of $5.80 came in just below consensus. Fourth-quarter guidance was described as steady to slightly better than recent results. Article: Nucor Could Be 5% Undervalued After Strong Earnings And Steady Guidance
- Positive Sentiment: A strong balance sheet and cash flow are supporting shareholder returns—reported at $1.36 billion—and leave room for continued investment, buybacks and dividend growth. Article: Can NUE’s Strong Balance Sheet Power Bigger Shareholder Returns Ahead?
- Neutral Sentiment: Despite the quarterly EPS miss, revenue exceeded expectations, and the results point to substantial year-over-year improvement. The mixed beat-and-miss may temper the otherwise positive earnings read-through.
- Negative Sentiment: Two executives recently disclosed stock sales: EVP Allen Behr sold 11,846 shares, reducing his holdings by 16.95%, and Michael Keller sold 1,136 shares, trimming his position by 6.79%. Insider sales can be planned or personal, but may add near-term caution among investors. SEC filing for Allen Behr sale SEC filing for Michael Keller sale
Institutional Investors Weigh In On Nucor
A number of hedge funds and other institutional investors have recently bought and sold shares of NUE. University of Texas Texas AM Investment Management Co. bought a new stake in Nucor during the third quarter valued at $2,672,000. Brighton Jones LLC grew its holdings in Nucor by 1.1% during the 3rd quarter. Brighton Jones LLC now owns 10,080 shares of the basic materials company’s stock worth $2,356,000 after acquiring an additional 114 shares during the period. Candriam S.C.A. raised its position in shares of Nucor by 33.1% in the 3rd quarter. Candriam S.C.A. now owns 23,624 shares of the basic materials company’s stock worth $5,542,000 after acquiring an additional 5,876 shares in the last quarter. Uhlmann Price Securities LLC lifted its stake in shares of Nucor by 42.7% in the 3rd quarter. Uhlmann Price Securities LLC now owns 2,845 shares of the basic materials company’s stock valued at $665,000 after purchasing an additional 851 shares during the period. Finally, Ethic Inc. lifted its stake in shares of Nucor by 1.8% in the 3rd quarter. Ethic Inc. now owns 25,144 shares of the basic materials company’s stock valued at $5,877,000 after purchasing an additional 434 shares during the period. Institutional investors own 76.48% of the company’s stock.
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.
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