Thomas Batterbee Sells 4,000 Shares of Nucor (NYSE:NUE) Stock

Nucor Corporation (NYSE:NUE) EVP Thomas Batterbee sold 4,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the transaction, the executive vice president directly owned 16,138 shares in the company, valued at $4,212,340.76. The trade was a 19.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Nucor Stock Down 0.9%

Shares of Nucor stock opened at $272.16 on Friday. The business has a 50-day moving average price of $245.21 and a 200 day moving average price of $210.37. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The firm has a market cap of $61.98 billion, a P/E ratio of 21.70, a P/E/G ratio of 0.61 and a beta of 1.89. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter last year, the business posted $2.60 EPS. Nucor’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, sell-side analysts forecast that Nucor Corporation will post 18.02 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, August 11th. Shareholders of record on Tuesday, June 30th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s payout ratio is currently 17.86%.

Analysts Set New Price Targets

NUE has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Nucor from $283.00 to $297.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Citigroup reaffirmed a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. UBS Group raised their target price on shares of Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Morgan Stanley set a $270.00 target price on Nucor in a research note on Wednesday, July 29th. Finally, BMO Capital Markets upped their target price on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and a consensus target price of $273.31.

Institutional Trading of Nucor

A number of large investors have recently modified their holdings of NUE. Northwestern Mutual Wealth Management Co. grew its position in Nucor by 745.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock valued at $13,614,000 after buying an additional 73,588 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Nucor by 19.3% during the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock worth $86,297,000 after buying an additional 82,668 shares in the last quarter. Oak Harvest Investment Services bought a new stake in shares of Nucor during the 4th quarter worth about $6,329,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Nucor by 21.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,371 shares of the basic materials company’s stock worth $7,400,000 after acquiring an additional 8,097 shares during the period. Finally, Pacific Heights Asset Management LLC lifted its stake in shares of Nucor by 12.9% in the 4th quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock worth $28,544,000 after acquiring an additional 20,000 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Company Profile

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.