Nucor Corporation (NYSE:NUE) EVP Sells $1,303,700.00 in Stock

Nucor Corporation (NYSE:NUE - Get Free Report) EVP Kenneth Rex Query sold 10,000 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $130.37, for a total value of $1,303,700.00. Following the completion of the sale, the executive vice president owned 94,080 shares of the company's stock, valued at $12,265,209.60. This trade represents a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Nucor Stock Performance

Shares of NYSE NUE traded up $4.46 during midday trading on Tuesday, reaching $134.00. 2,092,348 shares of the stock were exchanged, compared to its average volume of 2,703,097. The firm has a 50-day simple moving average of $118.64 and a two-hundred day simple moving average of $122.05. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.32. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. The firm has a market cap of $30.92 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 0.85 and a beta of 1.68.

Nucor (NYSE:NUE - Get Free Report) last posted 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). Nucor had a return on equity of 6.82% and a net margin of 4.40%. The company had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.25 billion. During the same quarter in the prior year, the firm earned $3.46 EPS. The firm's revenue was down 3.8% on a year-over-year basis. As a group, analysts anticipate that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Monday, June 30th. Nucor's dividend payout ratio is presently 39.15%.

Wall Street Analyst Weigh In

A number of research firms have commented on NUE. Wall Street Zen cut shares of Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. UBS Group cut their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. The Goldman Sachs Group decreased their price target on shares of Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Morgan Stanley lifted their price target on 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. lowered their price objective on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.00.

Hedge Funds Weigh In On Nucor

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

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.