Nucor (NYSE:NUE) EVP Sells $2,912,688.00 in Stock

Key Points

• EVP Daniel Needham sold 12,888 Nucor shares at an average of $226 for proceeds of $2,912,688, reducing his position by 12.56% to 89,724 shares; the sale was disclosed in an SEC Form 4 filing.
• Nucor beat quarterly estimates, reporting $3.23 EPS versus a $2.82 consensus and $9.50 billion in revenue (up 21.3% year‑over‑year), with the stock trading near its 52‑week high.
• Board approved a $4.0 billion share buyback (up to ~9.7% of outstanding shares) and declared a $0.56 quarterly dividend; analysts' consensus is a "Moderate Buy" with an average price target of $243.80.

Nucor Corporation (NYSE:NUE - Get Free Report) EVP Daniel Needham sold 12,888 shares of Nucor stock in a transaction on Friday, May 1st. The stock was sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the transaction, the executive vice president owned 89,724 shares in the company, valued at $20,277,624. This represents a 12.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Nucor Price Performance

Shares of NUE stock traded up $6.75 on Tuesday, hitting $232.56. 692,322 shares of the stock traded hands, compared to its average volume of 1,667,306. The firm 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 Corporation has a 52 week low of $106.21 and a 52 week high of $233.74. The firm has a 50 day simple moving average of $180.91 and a two-hundred day simple moving average of $169.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55.

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

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Nucor's dividend payout ratio is presently 22.18%.

Nucor declared that its Board of Directors has approved a stock repurchase plan on Friday, February 20th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 9.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NUE shares. Seaport Research Partners reissued a "buy" rating and issued a $245.00 price objective on shares of Nucor in a research report on Thursday, April 30th. The Goldman Sachs Group boosted their price objective on shares of Nucor from $240.00 to $260.00 in a research report on Friday. KeyCorp assumed coverage on shares of Nucor in a research report on Wednesday, March 25th. They issued a "sector weight" rating for the company. JPMorgan Chase & Co. upped their price target on shares of Nucor from $212.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company upped their price target on shares of Nucor from $213.00 to $244.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $243.80.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Nucor during the fourth quarter valued at $609,002,000. AQR Capital Management LLC grew its position in shares of Nucor by 580.9% in the second quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company's stock valued at $84,699,000 after purchasing an additional 557,819 shares during the period. Capital World Investors grew its position in shares of Nucor by 20.1% in the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company's stock valued at $412,081,000 after purchasing an additional 509,019 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Nucor by 169.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company's stock worth $127,216,000 after buying an additional 489,950 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Nucor by 27.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company's stock worth $290,405,000 after acquiring an additional 383,952 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

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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