Insider Selling: Nucor (NYSE:NUE) EVP Sells 33,068 Shares of Stock

Key Points

• Insider sale: Nucor EVP David Sumoski sold 33,068 shares on April 30 at an average of $225.67 for about $7.46 million, trimming his stake ~11.96% to 243,339 shares (≈$54.9M).
• Quarterly results and dividend: Nucor beat expectations with Q earnings of $3.23 EPS vs. $2.82 expected and $9.50B revenue (up 21.3% YoY), and declared a $0.56 quarterly dividend ($2.24 annualized) payable May 11.
• $4.0 billion buyback and analyst outlook: The board authorized a $4.0B repurchase program (up to ~9.7% of shares); analysts have raised price targets (several to $250) and the consensus rating is a "Moderate Buy" with a $240 target.

Nucor Corporation (NYSE:NUE - Get Free Report) EVP David Sumoski sold 33,068 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $225.67, for a total transaction of $7,462,455.56. Following the completion of the transaction, the executive vice president owned 243,339 shares in the company, valued at approximately $54,914,312.13. This represents a 11.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Nucor Stock Down 0.3%

Nucor stock traded down $0.64 during trading hours on Monday, hitting $225.40. The company had a trading volume of 429,123 shares, compared to its average volume of 1,672,824. The firm has a market capitalization of $51.31 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 0.65 and a beta of 1.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. The firm's fifty day moving average is $180.91 and its 200-day moving average is $169.22. Nucor Corporation has a fifty-two week low of $106.21 and a fifty-two week high of $227.96.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. The firm had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 EPS. On average, research analysts forecast that Nucor Corporation will post 13.64 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.56 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. Nucor's dividend payout ratio (DPR) is currently 22.18%.

Nucor declared that its board has authorized a share repurchase plan on Friday, February 20th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NUE. Morgan Stanley raised their price target on shares of Nucor from $180.00 to $227.00 and gave the company an "equal weight" rating in a report on Wednesday, April 29th. KeyCorp began coverage on shares of Nucor in a report on Wednesday, March 25th. They set a "sector weight" rating on the stock. BNP Paribas Exane raised their price target on shares of Nucor from $185.00 to $210.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Bank of America raised their price target on shares of Nucor from $190.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Finally, Jefferies Financial Group raised their price target on shares of Nucor from $225.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $240.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new stake in Nucor in the 3rd quarter worth $1,528,000. Penserra Capital Management LLC grew its position in Nucor by 15,814.3% in the 3rd quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company's stock worth $452,000 after purchasing an additional 3,321 shares during the last quarter. Allstate Corp acquired a new stake in Nucor in the 3rd quarter worth $1,085,000. Peterson Wealth Services grew its position in Nucor by 587,032.0% in the 3rd quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company's stock worth $19,879,000 after purchasing an additional 146,758 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Nucor by 11.1% in the 4th quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company's stock worth $342,642,000 after purchasing an additional 210,577 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

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.

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