apricus wealth LLC purchased a new position in Nucor Co. (NYSE:NUE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 17,525 shares of the basic materials company's stock, valued at approximately $2,109,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Nucor in the 4th quarter valued at $25,000. Putney Financial Group LLC bought a new position in Nucor in the fourth quarter valued at about $29,000. MV Capital Management Inc. boosted its position in shares of Nucor by 73.5% in the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after purchasing an additional 119 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of Nucor in the 4th quarter valued at $41,000. Finally, Park Square Financial Group LLC bought a new stake in shares of Nucor during the fourth quarter worth $48,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the sale, the chief executive officer now directly owns 162,993 shares of the company's stock, valued at approximately $19,590,128.67. This represents a 17.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.46% of the company's stock.
Nucor Stock Performance
NYSE NUE traded up $2.96 on Friday, hitting $121.41. 2,115,871 shares of the company traded hands, compared to its average volume of 2,204,201. The business's 50 day moving average price is $114.62 and its 200-day moving average price is $124.02. The company has a market capitalization of $28.02 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 0.96 and a beta of 1.68. Nucor Co. has a 52-week low of $97.59 and a 52-week high of $170.52. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27.
Nucor (NYSE:NUE - Get Free Report) last posted its earnings results 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). Nucor had a net margin of 6.60% and a return on equity of 9.85%. The business had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. During the same period last year, the business posted $3.46 earnings per share. The company's revenue for the quarter was down 3.8% compared to the same quarter last year. Equities analysts expect that Nucor Co. will post 7.64 earnings per share for the current year.
Nucor Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be given a $0.55 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.81%. Nucor's payout ratio is currently 39.15%.
Wall Street Analyst Weigh In
NUE has been the topic of a number of research analyst reports. BMO Capital Markets raised shares of Nucor from a "market perform" rating to an "outperform" rating and upped their target price for the company from $140.00 to $145.00 in a report on Monday, June 2nd. UBS Group dropped their price target on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Argus set a $155.00 price target on Nucor in a research report on Wednesday, March 5th. The Goldman Sachs Group decreased their price target on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $157.22.
Check Out Our Latest Report on Nucor
Nucor Company Profile
(
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.
See Also
Before you consider Nucor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nucor wasn't on the list.
While Nucor currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
