Insider Selling: Nucor (NYSE:NUE) EVP Sells $1,051,200.00 in Stock

Nucor Corporation (NYSE:NUE) EVP Daniel Needham sold 7,200 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $146.00, for a total value of $1,051,200.00. Following the transaction, the executive vice president owned 92,179 shares in the company, valued at approximately $13,458,134. This trade represents a 7.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Nucor Trading Up 3.2%

Shares of NUE stock opened at $147.7660 on Friday. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $138.18 and its two-hundred day moving average is $127.46. The company has a market cap of $33.92 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 0.91 and a beta of 1.74.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter last year, the company posted $2.68 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts predict that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, June 30th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, June 30th. Nucor’s dividend payout ratio (DPR) is 39.71%.

Institutional Investors Weigh In On Nucor

A number of institutional investors have recently bought and sold shares of NUE. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Nucor during the fourth quarter worth $25,000. Putney Financial Group LLC acquired a new stake in Nucor during the fourth quarter worth $29,000. IMA Advisory Services Inc. boosted its stake in Nucor by 51.4% during the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after buying an additional 75 shares in the last quarter. Matrix Trust Co boosted its stake in Nucor by 53.8% during the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock worth $31,000 after buying an additional 84 shares in the last quarter. Finally, MV Capital Management Inc. boosted its stake in Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company’s stock worth $34,000 after buying an additional 119 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the topic of several analyst reports. Wall Street Zen downgraded Nucor from a “hold” rating to a “sell” rating in a report on Wednesday, April 30th. Wells Fargo & Company upgraded shares of Nucor to a “hold” rating in a research note on Thursday, August 14th. Morgan Stanley raised their price objective on shares of Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. JPMorgan Chase & Co. raised their price objective on shares of Nucor from $143.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Finally, Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and raised their price objective for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Nucor currently has a consensus rating of “Buy” and a consensus price target of $155.78.

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.