Insider Selling: Nucor (NYSE:NUE) Insider Sells $317,318.88 in Stock

Nucor Corporation (NYSE:NUE) insider Michael Keller sold 1,136 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $279.33, for a total value of $317,318.88. Following the completion of the transaction, the insider owned 15,588 shares in the company, valued at approximately $4,354,196.04. This trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Nucor Stock Performance

Shares of NUE opened at $245.71 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.43. Nucor Corporation has a one year low of $140.93 and a one year high of $287.70. The firm has a market capitalization of $55.75 billion, a P/E ratio of 15.64, a PEG ratio of 0.66 and a beta of 1.81. The business has a fifty day moving average of $255.31 and a 200 day moving average of $225.29.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, October 26th. The basic materials company reported $5.80 EPS for the quarter, missing analysts’ consensus estimates of $5.84 by ($0.04). Nucor had a net margin of 9.26% and a return on equity of 15.53%. The firm had revenue of $11.25 billion for the quarter, compared to analysts’ expectations of $10.84 billion. During the same quarter last year, the company posted $2.63 EPS. The firm’s revenue was up 32.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nucor Corporation will post 19.63 EPS for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. Nucor’s dividend payout ratio is presently 14.26%.

Nucor News Summary

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: A bullish feature cited exceptionally strong steel demand and Nucor’s ability to benefit from it. Another Zacks commentary pointed to record shipments, rising steel prices and expanding margins. Bull of the Day: Nucor
• Positive Sentiment: The longer-term industry backdrop may be supportive: a market report projects global metal recycling will grow, with Nucor among the companies positioned in the sector. This is a broad industry forecast, not a company-specific catalyst. Global Metal Recycling Market forecast
• Neutral Sentiment: Recent quarterly revenue grew 32% year over year and beat estimates, but EPS narrowly missed consensus. The mixed results provide both a positive revenue signal and a modest earnings disappointment.
• Negative Sentiment: Nucor underperformed its competitors as shares fell in the latest session. Coverage described the move but did not point to a specific new operational or financial development explaining it. Nucor underperforms competitors
• Negative Sentiment: COO Stephen Laxton sold 10,560 shares, reducing his stake by about 12%. Insider sales can be for personal or planned reasons, but may weigh on sentiment. Nucor insider sale

Institutional Trading of Nucor

Several hedge funds have recently bought and sold shares of the stock. California Public Employees Retirement System lifted its holdings in shares of Nucor by 19.3% in the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock valued at $86,297,000 after acquiring an additional 82,668 shares during the last quarter. Tidal Investments LLC grew its position in Nucor by 31.2% in the second quarter. Tidal Investments LLC now owns 61,952 shares of the basic materials company’s stock worth $13,800,000 after acquiring an additional 14,736 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Nucor in the second quarter worth about $7,954,000. BIP Wealth LLC bought a new stake in Nucor during the second quarter worth approximately $852,000. Finally, Bank of New York Mellon Corp increased its stake in Nucor by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock worth $306,054,000 after acquiring an additional 29,476 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NUE shares. Wedbush set a $304.00 price objective on shares of Nucor in a report on Monday. Piper Sandler set a $304.00 target price on shares of Nucor in a research report on Friday, October 30th. Barclays upped their target price on shares of Nucor from $306.00 to $320.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Freedom Broker raised shares of Nucor from a “hold” rating to a “buy” rating and upped their target price for the company from $285.00 to $304.00 in a report on Friday, October 30th. Finally, Morgan Stanley set a $270.00 price target on shares of Nucor in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $287.38.

Nucor Company Profile

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.