Nucor Co. (NYSE:NUE) EVP Kenneth Rex Query Sells 9,000 Shares of Stock

Nucor Co. (NYSE:NUE) EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the sale, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at $14,499,436. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Nucor Stock Performance

NYSE:NUE opened at $141.80 on Friday. The stock has a market capitalization of $33.65 billion, a P/E ratio of 13.70 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The company has a 50 day moving average price of $147.64 and a 200 day moving average price of $157.39.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period last year, the business posted $4.57 earnings per share. Equities research analysts forecast that Nucor Co. will post 8.65 EPS for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.52%. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

Institutional Trading of Nucor

Several hedge funds have recently made changes to their positions in the business. CX Institutional increased its stake in Nucor by 52.8% during the 2nd quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock worth $2,726,000 after buying an additional 5,960 shares during the period. Norden Group LLC purchased a new stake in shares of Nucor during the first quarter worth $1,847,000. Banco Santander S.A. raised its stake in shares of Nucor by 86.2% in the first quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock valued at $2,552,000 after acquiring an additional 5,971 shares in the last quarter. Ascension Asset Management LLC purchased a new position in Nucor in the second quarter valued at $885,000. Finally, Kimelman & Baird LLC acquired a new position in Nucor during the 2nd quarter worth $6,655,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of analyst reports. Morgan Stanley dropped their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets dropped their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. decreased their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.