Nucor Co. (NYSE:NUE) CEO Leon J. Topalian Sells 9,389 Shares
Nucor Co. (NYSE:NUE) CEO Leon J. Topalian sold 9,389 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $43.18, for a total value of $405,417.02. Following the completion of the transaction, the chief executive officer now owns 118,090 shares of the company’s stock, valued at $5,099,126.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NUE opened at $42.70 on Friday. The company has a current ratio of 4.39, a quick ratio of 2.68 and a debt-to-equity ratio of 0.50. Nucor Co. has a 12 month low of $27.52 and a 12 month high of $58.70. The stock’s 50 day moving average is $41.63 and its two-hundred day moving average is $41.93. The firm has a market cap of $13.03 billion, a P/E ratio of 25.42, a PEG ratio of 1.79 and a beta of 1.43.
Nucor (NYSE:NUE) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.14 by $0.22. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.43 billion. Nucor had a return on equity of 7.95% and a net margin of 2.49%. Nucor’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. Equities research analysts forecast that Nucor Co. will post 2.02 EPS for the current year.
Several analysts recently commented on the company. UBS Group dropped their target price on Nucor from $56.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. BMO Capital Markets raised their target price on Nucor from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, June 19th. They noted that the move was a valuation call. Credit Suisse Group lowered Nucor from an “outperform” rating to a “neutral” rating in a report on Wednesday, April 15th. KeyCorp raised their target price on Nucor from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Finally, JPMorgan Chase & Co. dropped their target price on Nucor from $57.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $50.17.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NUE. Marshall Wace North America L.P. purchased a new position in shares of Nucor in the first quarter valued at approximately $54,000. FMR LLC lifted its position in shares of Nucor by 123.0% in the first quarter. FMR LLC now owns 674,154 shares of the basic materials company’s stock valued at $39,337,000 after acquiring an additional 371,876 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of Nucor by 16.7% in the fourth quarter. Guggenheim Capital LLC now owns 319,334 shares of the basic materials company’s stock valued at $17,972,000 after acquiring an additional 45,796 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Nucor by 199.9% in the fourth quarter. Janus Henderson Group PLC now owns 294,178 shares of the basic materials company’s stock valued at $16,554,000 after acquiring an additional 196,081 shares in the last quarter. Finally, Wealth Quarterback LLC purchased a new position in shares of Nucor in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 75.06% of the company’s stock.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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