Nucor (NYSE:NUE) EVP Sells $1,465,908.00 in Stock

Key Points

• Noah Hanners, Nucor EVP, sold 6,472 shares on May 1 at an average of $226.50 for a total of $1,465,908, leaving him with 50,377 shares (an 11.38% reduction); the transaction was disclosed via an SEC Form 4 filing.
• Nucor beat Q1 estimates with EPS of $3.23 (vs. $2.82 est.) and revenue of $9.50B (+21.3% Y/Y), while its Board authorized a $4.0 billion share repurchase (up to 9.7% of shares) and declared a $0.56 quarterly dividend.
• Wall Street is broadly positive—MarketBeat shows a "Moderate Buy" consensus with an average target of $243.80—and the stock trades near its 12‑month high with a market cap around $52.9 billion and a P/E of 23.0.

Nucor Corporation (NYSE:NUE - Get Free Report) EVP Noah Hanners sold 6,472 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $226.50, for a total value of $1,465,908.00. Following the transaction, the executive vice president owned 50,377 shares of the company's stock, valued at $11,410,390.50. This represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Nucor Price Performance

Nucor stock traded up $6.75 during mid-day trading on Tuesday, reaching $232.56. 692,322 shares of the company's stock traded hands, compared to its average volume of 1,667,306. Nucor Corporation has a 12-month low of $106.21 and a 12-month high of $233.74. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average of $180.91 and a two-hundred day moving average of $169.22. The company has a market cap of $52.94 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 0.65 and a beta of 1.87.

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

Nucor announced that its Board of Directors has initiated a share repurchase program on Friday, February 20th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor's dividend payout ratio (DPR) is presently 22.18%.

Hedge Funds Weigh In On Nucor

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Nucor in the 1st quarter valued at $85,000. Checchi Capital Advisers LLC boosted its position in Nucor by 15.2% during the first quarter. Checchi Capital Advisers LLC now owns 2,514 shares of the basic materials company's stock valued at $425,000 after purchasing an additional 331 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Nucor by 4.9% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,394 shares of the basic materials company's stock valued at $743,000 after purchasing an additional 207 shares during the last quarter. Principal Financial Group Inc. grew its position in Nucor by 1.5% during the 1st quarter. Principal Financial Group Inc. now owns 282,846 shares of the basic materials company's stock worth $47,829,000 after purchasing an additional 4,205 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in Nucor by 16.1% during the 1st quarter. Chicago Partners Investment Group LLC now owns 2,109 shares of the basic materials company's stock worth $357,000 after purchasing an additional 293 shares during the last quarter. Institutional investors own 76.48% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NUE. BMO Capital Markets raised their price objective on shares of Nucor from $196.00 to $235.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Morgan Stanley increased their price target on Nucor from $180.00 to $227.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 29th. Bank of America boosted their price objective on Nucor from $190.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. The Goldman Sachs Group upped their price objective on Nucor from $240.00 to $260.00 in a research report on Friday. Finally, BNP Paribas Exane increased their target price on Nucor from $210.00 to $248.00 and gave the stock an "outperform" rating in a research note on Monday. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $243.80.

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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