Nucor Co. (NYSE:NUE) CEO John J. Ferriola sold 14,607 shares of the company’s stock in a transaction on Tuesday, July 24th. The shares were sold at an average price of $68.25, for a total value of $996,927.75. Following the completion of the sale, the chief executive officer now owns 374,542 shares in the company, valued at $25,562,491.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Nucor opened at $63.45 on Friday, according to MarketBeat.com. The company has a market capitalization of $20.50 billion, a P/E ratio of 18.08, a P/E/G ratio of 0.72 and a beta of 1.57. Nucor Co. has a 12-month low of $51.67 and a 12-month high of $70.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.55 and a current ratio of 3.05.
Nucor (NYSE:NUE) last announced its quarterly earnings results on Thursday, July 19th. The basic materials company reported $2.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.03). The company had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.47 billion. Nucor had a return on equity of 16.22% and a net margin of 7.58%. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period last year, the business posted $1.00 EPS. research analysts forecast that Nucor Co. will post 7.45 earnings per share for the current year.
A number of research firms have recently commented on NUE. KeyCorp upgraded Nucor from a “sector weight” rating to an “overweight” rating and set a $77.00 price objective on the stock in a report on Tuesday, July 24th. Macquarie upgraded Nucor from a “neutral” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Thursday, May 17th. Zacks Investment Research upgraded Nucor from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Thursday, July 12th. UBS Group initiated coverage on Nucor in a research note on Tuesday, April 17th. They issued a “neutral” rating and a $65.00 target price for the company. Finally, Jefferies Financial Group restated a “buy” rating and set a $80.00 price objective on shares of Nucor in a research note on Friday, July 13th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $71.16.
A number of institutional investors have recently made changes to their positions in the business. Jacobi Capital Management LLC increased its position in shares of Nucor by 166.7% during the 1st quarter. Jacobi Capital Management LLC now owns 1,664 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 1,040 shares during the period. Signaturefd LLC acquired a new position in shares of Nucor in the 1st quarter worth $106,000. Parallel Advisors LLC grew its holdings in shares of Nucor by 120.0% in the 2nd quarter. Parallel Advisors LLC now owns 2,231 shares of the basic materials company’s stock worth $139,000 after acquiring an additional 1,217 shares during the last quarter. Centaurus Financial Inc. acquired a new position in shares of Nucor in the 1st quarter worth $146,000. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of Nucor in the 2nd quarter worth $153,000. 77.84% of the stock is currently owned by hedge funds and other institutional investors.
Nucor Company Profile
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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
Further Reading: Outstanding Shares and The Effect on Share Price
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