Advisors Capital Management LLC acquired a new position in Nucor Corporation (NYSE:NUE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,845 shares of the basic materials company's stock, valued at approximately $4,421,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vise Technologies Inc. purchased a new position in shares of Nucor during the second quarter valued at about $2,453,000. Bell & Brown Wealth Advisors LLC bought a new stake in Nucor during the 2nd quarter valued at approximately $260,000. CM Wealth Advisors LLC purchased a new position in shares of Nucor during the 2nd quarter worth approximately $310,000. Madison Asset Management LLC purchased a new position in shares of Nucor during the 2nd quarter worth approximately $374,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Nucor in the 2nd quarter worth approximately $312,000. 76.48% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on NUE. Jefferies Financial Group lifted their price target on Nucor from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. CICC Research assumed coverage on Nucor in a research report on Monday, May 25th. They set an "outperform" rating for the company. KeyCorp upgraded shares of Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 target price on the stock in a report on Wednesday, June 24th. Argus upped their target price on shares of Nucor from $200.00 to $262.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Finally, Wall Street Zen upgraded shares of Nucor from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $273.31.
Check Out Our Latest Stock Analysis on NUE
Nucor Price Performance
NUE stock opened at $243.89 on Friday. Nucor Corporation has a one year low of $131.32 and a one year high of $280.11. The company's fifty day moving average price is $246.88 and its 200-day moving average price is $216.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The company has a market capitalization of $55.33 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 0.89 and a beta of 1.89.
Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company had revenue of $10.40 billion during the quarter, compared to analysts' expectations of $10.15 billion. During the same period last year, the company posted $2.60 earnings per share. Nucor's quarterly revenue was up 23.0% on a year-over-year basis. On average, equities analysts anticipate that Nucor Corporation will post 17.95 EPS for the current fiscal year.
Nucor Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor's payout ratio is currently 17.86%.
Insider Activity at Nucor
In related news, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the transaction, the chief operating officer directly owned 77,867 shares of the company's stock, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John J. Hollatz sold 10,560 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the transaction, the executive vice president owned 97,865 shares of the company's stock, valued at $25,294,187.90. This represents a 9.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 18,528 shares of company stock valued at $4,793,035. Insiders own 0.62% of the company's stock.
Nucor Profile
(
Free Report)
Nucor Corporation NYSE: NUE is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor's operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.
Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.
Further Reading
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