Insider Selling: Nucor Co. (NYSE:NUE) EVP Sells 10,000 Shares of Stock

Nucor Co. (NYSE:NUE - Get Free Report) EVP Allen C. Behr sold 10,000 shares of the company's stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $170.54, for a total transaction of $1,705,400.00. Following the completion of the transaction, the executive vice president now owns 84,273 shares of the company's stock, valued at approximately $14,371,917.42. The sale was disclosed in a filing with the SEC, which is available at this link.

NYSE:NUE traded up $0.01 during trading hours on Friday, reaching $171.79. 278,374 shares of the company traded hands, compared to its average volume of 1,669,744. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.82 and a quick ratio of 2.41. The firm's 50-day moving average is $157.55 and its 200-day moving average is $155.46. The stock has a market cap of $43.16 billion, a P/E ratio of 7.93 and a beta of 1.60. Nucor Co. has a 1-year low of $102.86 and a 1-year high of $182.68.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, July 24th. The basic materials company reported $5.81 EPS for the quarter, topping analysts' consensus estimates of $5.59 by $0.22. The firm had revenue of $9.52 billion during the quarter, compared to analysts' expectations of $9.62 billion. Nucor had a return on equity of 28.00% and a net margin of 14.81%. The firm's quarterly revenue was down 19.3% compared to the same quarter last year. During the same quarter last year, the business posted $9.67 EPS. Equities research analysts expect that Nucor Co. will post 18.82 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, June 30th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, June 29th. Nucor's payout ratio is 9.42%.

Nucor announced that its board has approved a stock buyback program on Thursday, May 11th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the basic materials company to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Several institutional investors have recently bought and sold shares of the business. Pinnacle Associates Ltd. acquired a new position in shares of Nucor in the 4th quarter valued at about $226,000. Schechter Investment Advisors LLC lifted its position in Nucor by 6.0% during the fourth quarter. Schechter Investment Advisors LLC now owns 2,004 shares of the basic materials company's stock valued at $264,000 after buying an additional 113 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Nucor by 4.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 124,845 shares of the basic materials company's stock worth $16,532,000 after buying an additional 5,255 shares during the period. Parallel Advisors LLC increased its position in shares of Nucor by 5.9% in the first quarter. Parallel Advisors LLC now owns 2,102 shares of the basic materials company's stock worth $325,000 after acquiring an additional 118 shares in the last quarter. Finally, Hollencrest Capital Management acquired a new stake in shares of Nucor in the fourth quarter worth $130,000. 79.53% of the stock is currently owned by institutional investors and hedge funds.

NUE has been the subject of several research reports. Citigroup boosted their target price on Nucor from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, July 27th. UBS Group reduced their price objective on Nucor from $145.00 to $140.00 in a research note on Friday, May 5th. JPMorgan Chase & Co. raised their target price on shares of Nucor from $130.00 to $145.00 in a research report on Friday, July 14th. BNP Paribas upgraded shares of Nucor from a "neutral" rating to an "outperform" rating and set a $191.00 target price for the company in a research note on Wednesday, July 5th. Finally, Wolfe Research raised Nucor from an "underperform" rating to a "peer perform" rating in a report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $160.33.

View Our Latest Analysis on Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. The company's 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; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products.

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