Leon J. Topalian Sells 11,000 Shares of Nucor Co. (NYSE:NUE) Stock

Nucor Co. (NYSE:NUE) CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the sale, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at $29,109,918.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Nucor Stock Performance

NUE stock traded down $6.57 during mid-day trading on Thursday, hitting $161.17. The company had a trading volume of 2,608,016 shares, compared to its average volume of 1,537,995. The firm has a market cap of $38.25 billion, a PE ratio of 15.57 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The stock’s fifty day moving average price is $147.68 and its two-hundred day moving average price is $155.96.

Nucor (NYSE:NUE) last released its quarterly 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. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter in the previous year, the company earned $4.57 EPS. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, analysts forecast that Nucor Co. will post 8.65 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date of this dividend 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 analysts recently issued reports on the stock. Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. BMO Capital Markets lowered their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lowered their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Morgan Stanley reduced their price target 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. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.57.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. National Pension Service boosted its holdings in shares of Nucor by 3.2% during the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock valued at $98,097,000 after acquiring an additional 20,258 shares during the last quarter. CX Institutional boosted its stake in shares of Nucor by 52.8% during the second quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock valued at $2,726,000 after purchasing an additional 5,960 shares during the period. Banco Santander S.A. raised its holdings in Nucor by 86.2% in the first quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock worth $2,552,000 after purchasing an additional 5,971 shares in the last quarter. Ascension Asset Management LLC acquired a new position in shares of Nucor during the second quarter valued at about $885,000. Finally, Kimelman & Baird LLC purchased a new stake in Nucor in the 2nd quarter worth approximately $6,655,000. 76.48% of the stock is currently owned by institutional investors.

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.