Insider Selling: Nucor Co. (NYSE:NUE) CEO Sells 11,000 Shares of Stock

Nucor Co. (NYSE:NUE) CEO Leon J. Topalian sold 11,000 shares of Nucor stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the sale, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Nucor Price Performance

NUE traded down $6.57 during trading on Thursday, reaching $161.17. The stock had a trading volume of 2,608,016 shares, compared to its average volume of 1,537,995. The firm has a market capitalization of $38.25 billion, a price-to-earnings ratio of 15.57 and a beta of 1.55. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The stock has a 50 day moving average of $147.68 and a two-hundred day moving average of $155.96.

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

Nucor Dividend Announcement

The company also recently announced 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. This represents a $2.16 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is currently 20.87%.

Hedge Funds Weigh In On Nucor

Hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans boosted its holdings in Nucor by 25.7% during the third quarter. Thrivent Financial for Lutherans now owns 1,283,111 shares of the basic materials company’s stock valued at $192,902,000 after acquiring an additional 262,493 shares during the period. Turtle Creek Wealth Advisors LLC increased its holdings in shares of Nucor by 1.0% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 28,210 shares of the basic materials company’s stock valued at $4,241,000 after purchasing an additional 269 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in Nucor by 8,530.1% in the third quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock valued at $239,819,000 after acquiring an additional 1,576,695 shares during the last quarter. Mizuho Markets Americas LLC boosted its position in shares of Nucor by 2.6% during the third quarter. Mizuho Markets Americas LLC now owns 36,436 shares of the basic materials company’s stock worth $5,478,000 after purchasing an additional 914 shares in the last quarter. Finally, Coastline Trust Co acquired a new stake in shares of Nucor during the third quarter worth $29,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Morgan Stanley reduced their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. BMO Capital Markets lowered their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Finally, Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.