Nucor Co. (NYSE:NUE) Insider Sells $609,092.15 in Stock

Nucor Co. (NYSE:NUE) insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Nucor Stock Up 2.6 %

Shares of NYSE:NUE opened at $198.56 on Thursday. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30. Nucor Co. has a 52-week low of $129.79 and a 52-week high of $198.63. The stock’s fifty day simple moving average is $184.52 and its 200-day simple moving average is $168.75. The company has a market capitalization of $47.65 billion, a P/E ratio of 11.04 and a beta of 1.61.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.33. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same period in the prior year, the business earned $4.89 earnings per share. The business’s revenue was down 11.7% on a year-over-year basis. As a group, equities research analysts forecast that Nucor Co. will post 14.03 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.09%. Nucor’s dividend payout ratio (DPR) is presently 12.01%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. JPMorgan Chase & Co. upped their target price on Nucor from $151.00 to $158.00 and gave the company a “neutral” rating in a report on Tuesday, December 12th. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and upped their target price for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, UBS Group assumed coverage on Nucor in a report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $186.67.

Hedge Funds Weigh In On Nucor

Large investors have recently added to or reduced their stakes in the business. Criterion Capital Advisors LLC purchased a new position in Nucor during the fourth quarter worth about $25,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Nucor during the third quarter worth about $25,000. Valley National Advisers Inc. lifted its position in Nucor by 716.7% during the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after buying an additional 172 shares during the period. Garner Asset Management Corp purchased a new position in Nucor during the fourth quarter worth about $37,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Nucor during the first quarter worth about $32,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Company Profile

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.