Leon J. Topalian Sells 9,389 Shares of Nucor Co. (NYSE:NUE) Stock

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.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be given a $0.4025 dividend. The ex-dividend date is Monday, June 29th. This represents a $1.61 annualized dividend and a dividend yield of 3.79%. Nucor’s dividend payout ratio (DPR) is 37.35%.

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.

About Nucor

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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