Insider Selling: Nucor (NYSE:NUE) Insider Sells $1,028,566.44 in Stock

Nucor Corporation (NYSE:NUE) insider Michael Keller sold 4,554 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $225.86, for a total value of $1,028,566.44. Following the completion of the sale, the insider owned 16,834 shares in the company, valued at $3,802,127.24. This trade represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nucor Stock Performance

Shares of NYSE:NUE opened at $227.49 on Friday. The business’s fifty day moving average price is $184.10 and its two-hundred day moving average price is $171.28. Nucor Corporation has a fifty-two week low of $106.21 and a fifty-two week high of $235.44. The stock has a market capitalization of $51.79 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 0.65 and a beta of 1.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The business’s revenue was up 21.3% compared to the same quarter last year. As a group, analysts predict that Nucor Corporation will post 13.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Nucor’s dividend payout ratio is 22.18%.

Nucor declared that its board has approved a share repurchase program on Friday, February 20th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on Nucor in a research note on Wednesday, March 25th. They issued a “sector weight” rating on the stock. Morgan Stanley boosted their price objective on Nucor from $180.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Citigroup boosted their price objective on Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price objective on Nucor from $212.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group boosted their price objective on Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.80.

Hedge Funds Weigh In On Nucor

Large investors have recently made changes to their positions in the company. Stance Capital LLC bought a new stake in shares of Nucor during the third quarter worth approximately $25,000. Strive Financial Group LLC bought a new position in Nucor in the fourth quarter valued at approximately $27,000. Motiv8 Investments LLC bought a new position in Nucor in the fourth quarter valued at approximately $32,000. Bartlett & CO. Wealth Management LLC grew its holdings in Nucor by 49.2% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 63 shares during the period. Finally, Mcguire Capital Advisors Inc. acquired a new stake in Nucor during the 4th quarter worth $32,000. 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.