Insider Selling: Nucor Co. (NYSE:NUE) CEO Sells $1,860,210.00 in Stock

Nucor Co. (NYSE:NUE) CEO Leon J. Topalian sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the transaction, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Nucor Price Performance

Shares of NYSE:NUE opened at $158.84 on Friday. The firm has a market capitalization of $37.70 billion, a PE ratio of 15.35 and a beta of 1.55. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $148.04 and a two-hundred day moving average price of $155.77. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. Nucor’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period last year, the firm earned $4.57 EPS. Equities analysts forecast that Nucor Co. will post 8.65 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid 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 dividend yield of 1.36%. Nucor’s payout ratio is 20.87%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Nucor by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after buying an additional 84,558 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Nucor by 29.7% in the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after purchasing an additional 660,866 shares in the last quarter. Legal & General Group Plc lifted its stake in Nucor by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock worth $341,580,000 after purchasing an additional 67,974 shares in the last quarter. Mizuho Securities USA LLC boosted its holdings in Nucor by 8,530.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock valued at $239,819,000 after purchasing an additional 1,576,695 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in shares of Nucor by 25.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,283,111 shares of the basic materials company’s stock valued at $192,902,000 after purchasing an additional 262,493 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

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.