Nucor Corporation (NYSE:NUE) EVP Allen C. Behr Sells 8,021 Shares

Key Points

• Allen C. Behr, EVP of Nucor Corporation, sold 8,021 shares of the company for a total of approximately $1.15 million, reducing his ownership in the company by 8.84%.
• Nucor's recent quarterly earnings exceeded expectations, reporting $2.60 EPS against a consensus estimate of $2.54, with revenue figures also close to analyst predictions.
• The company has announced a quarterly $0.55 dividend, representing a dividend yield of 1.6% and is set to be paid to stockholders of record on June 30th.

Nucor Corporation (NYSE:NUE - Get Free Report) EVP Allen C. Behr sold 8,021 shares of Nucor stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the transaction, the executive vice president directly owned 82,703 shares of the company's stock, valued at $11,857,956.14. This represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Nucor Trading Down 0.8%

NYSE NUE traded down $1.06 during trading on Monday, reaching $137.61. 546,318 shares of the stock traded hands, compared to its average volume of 2,558,823. The firm has a market cap of $31.75 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 0.88 and a beta of 1.74. The stock's 50-day moving average price is $130.63 and its 200 day moving average price is $125.76. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.06. The company had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.68 earnings per share. Analysts predict that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, June 30th. Nucor's payout ratio is currently 39.71%.

Institutional Trading of Nucor

A number of institutional investors have recently made changes to their positions in NUE. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Nucor in the fourth quarter worth $25,000. Putney Financial Group LLC bought a new stake in Nucor during the fourth quarter worth $29,000. Matrix Trust Co raised its position in Nucor by 53.8% during the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company's stock worth $31,000 after acquiring an additional 84 shares in the last quarter. MV Capital Management Inc. raised its position in Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after acquiring an additional 119 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in Nucor during the fourth quarter worth $41,000. Institutional investors own 76.48% of the company's stock.

Wall Street Analyst Weigh In

NUE has been the subject of several analyst reports. Morgan Stanley lifted their price target on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Jefferies Financial Group raised shares of Nucor from a "hold" rating to a "buy" rating and lifted their price target for the company from $135.00 to $170.00 in a report on Thursday. Wall Street Zen downgraded shares of Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. The Goldman Sachs Group cut their price target on shares of Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, UBS Group dropped their target price 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. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.13.

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.

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