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

Nucor Corporation (NYSE:NUE) EVP Thomas Batterbee sold 4,000 shares of Nucor stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nucor Stock Up 0.2%

Shares of NYSE:NUE opened at $274.52 on Thursday. The company’s 50-day moving average price is $244.76 and its two-hundred day moving average price is $209.68. The firm has a market cap of $62.52 billion, a P/E ratio of 21.89, a P/E/G ratio of 0.61 and a beta of 1.89. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. 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 issued its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the prior year, the firm posted $2.60 earnings per share. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, research analysts forecast that Nucor Corporation will post 18.02 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is currently 17.86%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 acquiring an additional 73,588 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Nucor by 19.3% in the first 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. Oak Harvest Investment Services bought a new stake in Nucor during the fourth quarter worth about $6,329,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Nucor by 21.7% during the fourth 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 in the last quarter. Finally, Pacific Heights Asset Management LLC boosted its position in Nucor by 12.9% during the fourth quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock valued at $28,544,000 after purchasing an additional 20,000 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NUE has been the subject of a number of recent analyst reports. BNP Paribas Exane upped 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. CICC Research began coverage on Nucor in a report on Monday, May 25th. They set an “outperform” rating on the stock. UBS Group boosted their target price on Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. BMO Capital Markets upped their price target on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.31.

About Nucor

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.