Nucor Corporation $NUE Shares Sold by Berkshire Asset Management LLC PA

Key Points

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Berkshire Asset Management LLC PA lessened its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 347,148 shares of the basic materials company's stock after selling 6,335 shares during the period. Nucor accounts for approximately 1.9% of Berkshire Asset Management LLC PA's holdings, making the stock its 17th biggest position. Berkshire Asset Management LLC PA owned 0.15% of Nucor worth $40,092,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NUE. Canal Capital Management LLC lifted its position in Nucor by 2.5% during the fourth quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company's stock valued at $359,000 after purchasing an additional 75 shares during the last quarter. Highline Wealth Partners LLC raised its position in shares of Nucor by 2.6% during the 1st quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company's stock valued at $423,000 after buying an additional 90 shares in the last quarter. Diligent Investors LLC lifted its holdings in shares of Nucor by 4.6% in the 1st quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company's stock valued at $276,000 after acquiring an additional 102 shares during the last quarter. Denali Advisors LLC grew its position in Nucor by 2.5% in the first quarter. Denali Advisors LLC now owns 4,117 shares of the basic materials company's stock worth $495,000 after acquiring an additional 102 shares in the last quarter. Finally, Horizon Advisory Services Inc. increased its stake in Nucor by 6.1% during the first quarter. Horizon Advisory Services Inc. now owns 1,962 shares of the basic materials company's stock worth $236,000 after acquiring an additional 112 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Nucor Trading Up 3.2%

Shares of NYSE:NUE traded up $4.5160 during trading on Friday, reaching $147.7660. 1,407,529 shares of the company were exchanged, compared to its average volume of 1,649,232. The business's fifty day simple moving average is $138.18 and its 200-day simple moving average is $127.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The firm has a market capitalization of $33.92 billion, a PE ratio of 26.67, a P/E/G ratio of 0.94 and a beta of 1.74.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.47 billion. During the same period last year, the business posted $2.68 EPS. Nucor's quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, June 30th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, June 30th. Nucor's dividend payout ratio is presently 39.71%.

Analyst Ratings Changes

A number of brokerages recently issued reports on NUE. Jefferies Financial Group upgraded Nucor from a "hold" rating to a "buy" rating and raised their price target for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. Morgan Stanley raised their target price on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Wall Street Zen cut shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. increased their price objective on shares of Nucor from $143.00 to $162.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, UBS Group dropped their target price on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Nucor has an average rating of "Buy" and an average price target of $155.78.

Insider Buying and Selling at Nucor

In other news, EVP Allen C. Behr sold 8,021 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $143.38, for a total value of $1,150,050.98. Following the completion of the sale, the executive vice president owned 82,703 shares of the company's stock, valued at approximately $11,857,956.14. This represents a 8.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel R. Needham sold 7,200 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $146.00, for a total value of $1,051,200.00. Following the completion of the transaction, the executive vice president directly owned 92,179 shares of the company's stock, valued at approximately $13,458,134. The trade was a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,309 shares of company stock valued at $5,860,294. Company insiders own 0.46% of the company's stock.

About Nucor

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.