Kenneth Rex Query Sells 9,000 Shares of Nucor Co. (NYSE:NUE) Stock

Nucor Co. (NYSE:NUE - Get Free Report) EVP Kenneth Rex Query sold 9,000 shares of Nucor stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares in the company, valued at approximately $14,499,436. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Nucor Trading Down 0.6 %

Shares of Nucor stock traded down $0.90 during mid-day trading on Thursday, hitting $141.80. The stock had a trading volume of 2,299,317 shares, compared to its average volume of 1,509,048. The firm has a 50-day moving average of $147.73 and a two-hundred day moving average of $157.50. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The firm has a market cap of $33.65 billion, a P/E ratio of 13.79 and a beta of 1.55.

Nucor (NYSE:NUE - Get Free Report) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (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 company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same period in the prior year, the business earned $4.57 EPS. The firm's quarterly revenue was down 15.2% on a year-over-year basis. Sell-side analysts forecast that Nucor Co. will post 8.65 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Friday, September 27th. Nucor's dividend payout ratio (DPR) is 20.87%.

Analysts Set New Price Targets

Several brokerages recently weighed in on NUE. BMO Capital Markets dropped their target price on shares of Nucor from $175.00 to $160.00 and set a "market perform" rating for the company in a report on Wednesday, September 18th. Morgan Stanley decreased their target price on shares of Nucor from $170.00 to $166.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced 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 raised shares of Nucor to a "strong-buy" rating in a research report 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Nucor currently has a consensus rating of "Moderate Buy" and an average price target of $190.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Norden Group LLC acquired a new position in Nucor during the first quarter worth about $1,847,000. Westside Investment Management Inc. lifted its position in shares of Nucor by 50.0% during the first quarter. Westside Investment Management Inc. now owns 300 shares of the basic materials company's stock worth $60,000 after purchasing an additional 100 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Nucor by 11.7% during the first quarter. First Trust Direct Indexing L.P. now owns 5,308 shares of the basic materials company's stock worth $1,050,000 after purchasing an additional 558 shares in the last quarter. American National Bank & Trust Co. VA acquired a new stake in Nucor in the first quarter valued at $325,000. Finally, J.W. Cole Advisors Inc. raised its holdings in Nucor by 80.5% in the first quarter. J.W. Cole Advisors Inc. now owns 2,296 shares of the basic materials company's stock valued at $454,000 after acquiring an additional 1,024 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other 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.