Nucor Co. (NYSE:NUE) CEO Leon J. Topalian sold 9,389 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $43.18, for a total transaction of $405,417.02. Following the transaction, the chief executive officer now directly owns 118,090 shares of the company’s stock, valued at approximately $5,099,126.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
NUE stock traded down $0.74 during midday trading on Thursday, hitting $42.52. 21,120 shares of the stock traded hands, compared to its average volume of 2,029,135. The firm has a market cap of $12.78 billion, a P/E ratio of 25.40, a PEG ratio of 1.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.39 and a quick ratio of 2.68. The stock’s fifty day simple moving average is $41.68 and its 200-day simple moving average is $41.98. Nucor Co. has a 1-year low of $27.52 and a 1-year high of $58.70.
Nucor (NYSE:NUE) last announced its earnings results on Thursday, July 23rd. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.22. Nucor had a net margin of 2.49% and a return on equity of 7.95%. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter last year, the business earned $1.26 earnings per share. The company’s revenue for the quarter was down 26.6% compared to the same quarter last year. On average, research analysts predict that Nucor Co. will post 2.02 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sumitomo Life Insurance Co. grew its position in shares of Nucor by 1.0% in the first quarter. Sumitomo Life Insurance Co. now owns 27,069 shares of the basic materials company’s stock valued at $975,000 after purchasing an additional 265 shares during the period. Horrell Capital Management Inc. grew its position in shares of Nucor by 0.9% in the second quarter. Horrell Capital Management Inc. now owns 31,428 shares of the basic materials company’s stock valued at $1,301,000 after purchasing an additional 267 shares during the period. GWM Advisors LLC grew its position in shares of Nucor by 2.8% in the second quarter. GWM Advisors LLC now owns 11,193 shares of the basic materials company’s stock valued at $463,000 after purchasing an additional 300 shares during the period. Parallel Advisors LLC grew its position in shares of Nucor by 18.1% in the second quarter. Parallel Advisors LLC now owns 1,968 shares of the basic materials company’s stock valued at $81,000 after purchasing an additional 301 shares during the period. Finally, Global Retirement Partners LLC grew its position in shares of Nucor by 15.8% in the second quarter. Global Retirement Partners LLC now owns 2,339 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 319 shares during the period. Institutional investors and hedge funds own 75.06% of the company’s stock.
Several brokerages recently issued reports on NUE. JPMorgan Chase & Co. reduced their target price on shares of Nucor from $57.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, April 17th. Credit Suisse Group cut shares of Nucor from an “outperform” rating to a “neutral” rating in a report on Wednesday, April 15th. KeyCorp raised their target price on shares of Nucor from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. UBS Group reduced their target price on shares of Nucor from $56.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Finally, BMO Capital Markets raised their target price on shares of Nucor from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, June 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $50.17.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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