Traders Sell Shares of Nucor (NUE) on Strength (NUE)

Investors sold shares of Nucor Co. (NYSE:NUE) on strength during trading hours on Monday. $30.49 million flowed into the stock on the tick-up and $83.04 million flowed out of the stock on the tick-down, for a money net flow of $52.55 million out of the stock. Of all equities tracked, Nucor had the 0th highest net out-flow for the day. Nucor traded up $0.38 for the day and closed at $68.24

A number of equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research report on Monday. Bank of America set a $75.00 target price on shares of Nucor and gave the stock a “buy” rating in a research report on Monday. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Longbow Research upgraded shares of Nucor from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. Finally, BMO Capital Markets set a $62.00 target price on shares of Nucor and gave the stock a “hold” rating in a research report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $67.07.

The stock has a market capitalization of $21,690.00, a price-to-earnings ratio of 19.01, a PEG ratio of 1.29 and a beta of 1.58. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.19 billion. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The company’s revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. sell-side analysts forecast that Nucor Co. will post 3.61 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio (DPR) is 42.34%.

In other news, insider D. Chad Utermark sold 9,003 shares of Nucor stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $59.72, for a total transaction of $537,659.16. Following the sale, the insider now owns 73,883 shares of the company’s stock, valued at approximately $4,412,292.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert J. Stratman sold 39,037 shares of Nucor stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the sale, the executive vice president now directly owns 233,824 shares in the company, valued at approximately $14,936,677.12. The disclosure for this sale can be found here. In the last three months, insiders sold 80,754 shares of company stock worth $4,964,014. Insiders own 0.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in NUE. Mckinley Capital Management LLC Delaware bought a new stake in shares of Nucor during the 2nd quarter valued at about $100,000. Krilogy Financial LLC boosted its stake in shares of Nucor by 4,594.6% during the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 1,700 shares in the last quarter. Fiduciary Trust Co. bought a new stake in shares of Nucor during the 2nd quarter valued at about $109,000. Sun Life Financial INC boosted its stake in shares of Nucor by 23,290.0% during the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 2,329 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Nucor by 791.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 2,373 shares in the last quarter. 74.31% of the stock is currently owned by hedge funds and other institutional investors.

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About Nucor

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

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