Nucor Corporation (NYSE:NUE) EVP Daniel R. Needham Sells 7,088 Shares

Nucor Corporation (NYSE:NUE - Get Free Report) EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total transaction of $906,342.56. Following the completion of the transaction, the executive vice president now directly owns 99,379 shares of the company's stock, valued at approximately $12,707,592.73. The trade was a 6.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Nucor Stock Up 1.8%

NYSE:NUE traded up $2.35 during midday trading on Thursday, reaching $130.56. The company had a trading volume of 814,063 shares, compared to its average volume of 2,222,805. The firm has a market capitalization of $30.13 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 0.83 and a beta of 1.67. The stock's fifty day simple moving average is $117.36 and its 200-day simple moving average is $122.35. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). The firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. Nucor had a return on equity of 6.82% and a net margin of 4.40%. The company's quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the firm earned $3.46 EPS. On average, sell-side analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.69%. Nucor's dividend payout ratio (DPR) is presently 39.15%.

Analysts Set New Price Targets

NUE has been the subject of a number of analyst reports. Wall Street Zen downgraded Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group lowered their target price on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. JPMorgan Chase & Co. dropped their price objective on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Argus set a $155.00 target price on shares of Nucor in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.56.

Institutional Trading of Nucor

A number of institutional investors have recently added to or reduced their stakes in NUE. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor during the fourth quarter valued at $25,000. Putney Financial Group LLC purchased a new position in Nucor in the fourth quarter valued at about $29,000. MV Capital Management Inc. lifted its holdings in Nucor by 73.5% during the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after buying an additional 119 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Nucor during the fourth quarter valued at approximately $41,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 153 shares during the period. Hedge funds and other institutional investors own 76.48% of the company's stock.

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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