Kenneth Rex Query Sells 10,000 Shares of Nucor (NYSE:NUE) Stock

Key Points

• Kenneth Rex Query, EVP of Nucor Corporation, sold 10,000 shares of Nucor stock for a total of $1.45 million, reducing their ownership by 10.63% to 84,080 shares.
• Nucor reported $2.60 earnings per share (EPS) for the last quarter, which exceeded analysts' expectations of $2.54, while revenue increased by 4.7% year-over-year.
• The company recently declared a quarterly dividend of $0.55 per share, representing an annual yield of 1.5%, with a payout ratio of 39.71%.

Nucor Corporation (NYSE:NUE - Get Free Report) EVP Kenneth Rex Query sold 10,000 shares of Nucor stock in a transaction on Monday, August 18th. The stock was sold at an average price of $144.90, for a total transaction of $1,449,000.00. Following the sale, the executive vice president directly owned 84,080 shares of the company's stock, valued at $12,183,192. This represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Kenneth Rex Query also recently made the following trade(s):

• On Thursday, June 26th, Kenneth Rex Query sold 10,000 shares of Nucor stock. The stock was sold at an average price of $130.37, for a total transaction of $1,303,700.00.

Nucor Price Performance

Shares of NYSE NUE traded down $1.8030 during mid-day trading on Wednesday, reaching $144.1070. 304,584 shares of the company were exchanged, compared to its average volume of 2,458,070. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $33.08 billion, a PE ratio of 26.00, a PEG ratio of 0.92 and a beta of 1.74. The company's 50 day moving average price is $136.64 and its 200 day moving average price is $127.15.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same period in the previous year, the firm posted $2.68 EPS. The firm's revenue was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, June 30th were paid a $0.55 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.5%. Nucor's payout ratio is currently 39.71%.

Institutional Trading of Nucor

Several institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC raised its position in Nucor by 1.0% during the fourth quarter. NewEdge Advisors LLC now owns 13,655 shares of the basic materials company's stock valued at $1,594,000 after acquiring an additional 135 shares in the last quarter. MetLife Investment Management LLC increased its position in Nucor by 0.7% during the fourth quarter. MetLife Investment Management LLC now owns 62,187 shares of the basic materials company's stock worth $7,258,000 after acquiring an additional 435 shares during the period. Tower Research Capital LLC TRC increased its position in Nucor by 50.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,039 shares of the basic materials company's stock worth $1,522,000 after acquiring an additional 4,358 shares during the period. Quantessence Capital LLC acquired a new stake in Nucor in the 4th quarter worth $216,000. Finally, Coppell Advisory Solutions LLC increased its holdings in shares of Nucor by 128.1% during the 4th quarter. Coppell Advisory Solutions LLC now owns 495 shares of the basic materials company's stock worth $57,000 after purchasing an additional 278 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wall Street Zen downgraded shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. UBS Group lowered their price target on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Jefferies Financial Group raised shares of Nucor from a "hold" rating to a "buy" rating and boosted their price target for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. Morgan Stanley boosted their price target on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Nucor from $143.00 to $162.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Nucor currently has a consensus rating of "Buy" and a consensus target price of $155.78.

About Nucor

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.

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