Alpha Cubed Investments LLC purchased a new stake in Nucor Corporation (NYSE:NUE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,368 shares of the basic materials company's stock, valued at approximately $285,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Marshall & Sterling Wealth Advisors Inc. bought a new position in Nucor during the 4th quarter worth approximately $25,000. Putney Financial Group LLC bought a new position in Nucor during the 4th quarter valued at $29,000. MV Capital Management Inc. boosted its stake in Nucor by 73.5% during the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 119 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in Nucor during the 4th quarter valued at $41,000. Finally, Spirit of America Management Corp NY bought a new stake in shares of Nucor during the 1st quarter worth $48,000. Hedge funds and other institutional investors own 76.48% of the company's stock.
Analyst Ratings Changes
Several research firms have recently weighed in on NUE. UBS Group reduced their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $140.00 to $145.00 in a report on Monday, June 2nd. Wall Street Zen lowered Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group dropped their price objective on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Nucor has an average rating of "Moderate Buy" and a consensus price target of $150.00.
View Our Latest Stock Report on Nucor
Insider Buying and Selling
In other Nucor news, EVP Daniel R. Needham sold 7,088 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total transaction of $906,342.56. Following the completion of the sale, the executive vice president owned 99,379 shares in the company, valued at approximately $12,707,592.73. The trade was a 6.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 10,000 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the sale, the executive vice president owned 94,080 shares of the company's stock, valued at $12,265,209.60. The trade was a 9.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,326 shares of company stock worth $6,325,108 in the last quarter. Insiders own 0.46% of the company's stock.
Nucor Price Performance
NYSE NUE traded down $0.88 during trading on Friday, reaching $142.43. 1,242,965 shares of the company traded hands, compared to its average volume of 2,242,512. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 2.52. The stock's 50 day moving average price is $122.69 and its two-hundred day moving average price is $123.28. The company has a market cap of $32.87 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 0.92 and a beta of 1.70. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $170.52.
Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The company had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. The firm's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.46 earnings per share. As a group, analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.
Nucor Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Monday, June 30th. Nucor's payout ratio is currently 39.15%.
Nucor Profile
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Free Report)
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.
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