Nucor (NYSE:NUE) EVP Sells $562,500.00 in Stock

Nucor Corporation (NYSE:NUE) EVP Randy Spicer sold 2,500 shares of Nucor stock in a transaction on Monday, May 18th. The stock was sold at an average price of $225.00, for a total value of $562,500.00. Following the sale, the executive vice president owned 20,510 shares of the company’s stock, valued at approximately $4,614,750. This trade represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Nucor Stock Up 2.5%

NYSE:NUE opened at $231.99 on Friday. Nucor Corporation has a twelve month low of $106.21 and a twelve month high of $235.45. The company has a market cap of $52.83 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 0.61 and a beta of 1.87. The stock has a fifty day simple moving average of $196.07 and a 200-day simple moving average of $177.57. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30.

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

Nucor announced that its board has authorized a stock repurchase program on Friday, February 20th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the basic materials company to purchase up to 9.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Nucor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. purchased a new position in Nucor in the third quarter valued at about $1,528,000. Penserra Capital Management LLC grew its stake in Nucor by 15,814.3% in the third quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock valued at $452,000 after purchasing an additional 3,321 shares during the last quarter. Allstate Corp purchased a new position in Nucor in the third quarter valued at about $1,085,000. Peterson Wealth Services grew its stake in Nucor by 587,032.0% in the third quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company’s stock valued at $19,879,000 after purchasing an additional 146,758 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in Nucor by 11.1% in the fourth quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock valued at $342,642,000 after purchasing an additional 210,577 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings upgraded Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 14th. Citigroup lifted their target price on Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Wells Fargo & Company lifted their price objective on Nucor from $213.00 to $244.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Barclays assumed coverage on Nucor in a report on Thursday. They issued an “overweight” rating and a $270.00 price objective for the company. Finally, BNP Paribas Exane lifted their price objective on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and an average target price of $247.50.

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.