Nucor (NYSE:NUE) EVP Thomas Batterbee Sells 4,000 Shares

Key Points

• Nucor EVP Thomas Batterbee sold 4,000 shares at an average price of $261.02, generating $1.04 million; his remaining stake fell by 19.86% to 16,138 shares.
• Nucor exceeded quarterly earnings expectations, reporting $4.84 EPS versus the $4.46 consensus and revenue of $10.40 billion, up 23% year over year. The company also declared a quarterly dividend of $0.56 per share.
• Analysts maintain a generally positive outlook, with 12 Buy and four Hold ratings and an average price target of $273.31; shares recently traded near $273.94.

Nucor Corporation (NYSE:NUE - Get Free Report) EVP Thomas Batterbee sold 4,000 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the sale, the executive vice president owned 16,138 shares of the company's stock, valued at $4,212,340.76. The trade was a 19.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Nucor Stock Down 0.0%

NUE traded down $0.10 during midday trading on Wednesday, hitting $273.94. The company had a trading volume of 1,231,874 shares, compared to its average volume of 1,624,829. The stock's 50 day moving average price is $244.19 and its 200 day moving average price is $208.98. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $280.11. The company has a market capitalization of $62.39 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 0.58 and a beta of 1.89. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company had revenue of $10.40 billion for the quarter, compared to analysts' expectations of $10.15 billion. During the same quarter in the prior year, the firm earned $2.60 EPS. The business's revenue was up 23.0% on a year-over-year basis. On average, research analysts anticipate that Nucor Corporation will post 17.84 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor's dividend payout ratio (DPR) is 17.86%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NUE. UBS Group increased their target price on Nucor from $224.00 to $256.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. BMO Capital Markets lifted their price objective on shares of Nucor from $285.00 to $295.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Zacks Research downgraded shares of Nucor from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Barclays upped their target price on shares of Nucor from $272.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Finally, BNP Paribas Exane raised their price target on shares of Nucor from $210.00 to $248.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $273.31.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. USA Financial Formulas increased its stake in Nucor by 292.0% in the 1st quarter. USA Financial Formulas now owns 3,285 shares of the basic materials company's stock valued at $555,000 after buying an additional 2,447 shares during the last quarter. BIP Wealth LLC purchased a new position in shares of Nucor in the 2nd quarter worth approximately $852,000. Summit Global Investments bought a new position in shares of Nucor in the second quarter valued at approximately $349,000. Oppenheimer Asset Management Inc. bought a new position in shares of Nucor in the second quarter valued at approximately $7,954,000. Finally, Regent Peak Wealth Advisors LLC purchased a new stake in shares of Nucor during the second quarter valued at approximately $206,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

About Nucor

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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