Nucor (NYSE:NUE) EVP Randy Spicer Sells 2,500 Shares

Nucor Corporation (NYSE:NUE) EVP Randy Spicer sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $225.00, for a total value of $562,500.00. Following the completion of the sale, the executive vice president directly owned 20,510 shares of the company’s stock, valued at $4,614,750. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Nucor Price Performance

Shares of NUE traded up $3.06 during mid-day trading on Wednesday, hitting $224.79. The company’s stock had a trading volume of 418,700 shares, compared to its average volume of 1,629,703. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. The firm has a 50-day simple moving average of $192.62 and a 200 day simple moving average of $176.12. The firm has a market capitalization of $51.19 billion, a P/E ratio of 22.24, a P/E/G ratio of 0.61 and a beta of 1.87. Nucor Corporation has a 1-year low of $106.21 and a 1-year high of $235.45.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.82 by $0.41. The business had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. Analysts predict that Nucor Corporation will post 14.58 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, March 31st. Nucor’s dividend payout ratio (DPR) is currently 22.18%.

Nucor announced that its board has approved a stock repurchase plan on Friday, February 20th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. UBS Group cut Nucor from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $190.00 to $224.00 in a report on Tuesday, April 28th. JPMorgan Chase & Co. lifted their price objective on Nucor from $212.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Weiss Ratings raised Nucor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 14th. Wall Street Zen raised Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Bank of America lifted their price objective on Nucor from $190.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $245.45.

Hedge Funds Weigh In On Nucor

Hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its position in shares of Nucor by 21.1% in the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 568 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nucor in the first quarter valued at $259,000. Geneos Wealth Management Inc. grew its position in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 153 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Nucor in the second quarter valued at $390,000. Finally, Cerity Partners LLC grew its position in shares of Nucor by 51.9% in the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after purchasing an additional 13,877 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

About Nucor

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.