Allen C. Behr Sells 4,968 Shares of Nucor Co. (NYSE:NUE) Stock

Nucor Co. (NYSE:NUE) EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nucor Stock Down 3.8 %

Nucor stock opened at $146.38 on Friday. 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 1-year low of $133.42 and a 1-year high of $203.00. The company has a market cap of $34.37 billion, a PE ratio of 14.14 and a beta of 1.55. The stock’s 50 day moving average price is $148.58 and its 200 day moving average price is $155.22.

Nucor (NYSE:NUE) last posted its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned $4.57 earnings per share. On average, sell-side analysts predict that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.48%. Nucor’s payout ratio is 20.87%.

Institutional Trading of Nucor

A number of institutional investors have recently bought and sold shares of NUE. Envestnet Portfolio Solutions Inc. boosted its position in Nucor by 32.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,638 shares of the basic materials company’s stock worth $1,314,000 after purchasing an additional 1,614 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Nucor in the first quarter worth $53,000. Bleakley Financial Group LLC raised its holdings in shares of Nucor by 3.8% in the first quarter. Bleakley Financial Group LLC now owns 5,204 shares of the basic materials company’s stock worth $1,030,000 after acquiring an additional 189 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Nucor by 10.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 303,716 shares of the basic materials company’s stock worth $60,105,000 after acquiring an additional 27,817 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Nucor by 15.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 323,350 shares of the basic materials company’s stock worth $63,991,000 after acquiring an additional 43,093 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley cut their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. dropped their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, BMO Capital Markets dropped their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.57.

About Nucor

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.