Nucor Co. (NYSE:NUE) CFO Stephen D. Laxton Sells 4,712 Shares

Nucor Co. (NYSE:NUE) CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares in the company, valued at $13,923,837.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Nucor Trading Down 3.9 %

NYSE NUE opened at $161.17 on Friday. The stock has a market capitalization of $38.25 billion, a price-to-earnings ratio of 15.57 and a beta of 1.55. The business’s fifty day moving average is $147.68 and its 200-day moving average is $155.96. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. Nucor Co. has a one year low of $133.42 and a one year high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same quarter last year, the business posted $4.57 EPS. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. Equities research analysts predict that Nucor Co. will post 8.65 EPS for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.34%. Nucor’s payout ratio is 20.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley reduced their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, BMO Capital Markets dropped their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.57.

Institutional Trading of Nucor

A number of institutional investors have recently modified their holdings of the business. GPS Wealth Strategies Group LLC grew its stake in Nucor by 4.1% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock valued at $258,000 after acquiring an additional 64 shares in the last quarter. Chilton Capital Management LLC increased its holdings in shares of Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 65 shares during the period. Aptus Capital Advisors LLC raised its position in shares of Nucor by 2.1% in the second quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company’s stock worth $546,000 after buying an additional 71 shares in the last quarter. Brighton Jones LLC boosted its stake in Nucor by 3.3% during the second quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock valued at $351,000 after buying an additional 71 shares during the period. Finally, Salomon & Ludwin LLC grew its position in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after buying an additional 72 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

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.