Nucor Corporation (NYSE:NUE) Shares Sold by Burney Co.

Burney Co. cut its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 29.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 7,552 shares of the basic materials company's stock after selling 3,224 shares during the period. Burney Co.'s holdings in Nucor were worth $909,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor during the 4th quarter worth $25,000. Putney Financial Group LLC acquired a new stake in shares of Nucor during the 4th quarter worth $29,000. MV Capital Management Inc. increased its holdings in shares of Nucor by 73.5% during the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after buying an additional 119 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of Nucor during the 4th quarter worth $41,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of Nucor during the 4th quarter worth $48,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 7,088 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total value of $906,342.56. Following the transaction, the executive vice president owned 99,379 shares of the company's stock, valued at $12,707,592.73. This trade represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kenneth Rex Query sold 10,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the completion of the transaction, the executive vice president directly owned 94,080 shares in the company, valued at $12,265,209.60. This represents a 9.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,326 shares of company stock valued at $6,325,108 over the last quarter. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NUE shares. The Goldman Sachs Group dropped their price objective on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. Morgan Stanley increased their price target on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and increased their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. JPMorgan Chase & Co. increased their price target on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Finally, UBS Group lowered their price target on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $152.75.

Nucor Stock Up 3.2%

Shares of NUE stock traded up $4.48 during trading hours on Friday, hitting $145.91. 1,983,006 shares of the company were exchanged, compared to its average volume of 1,617,937. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 2.52. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. The business's 50-day simple moving average is $127.65 and its two-hundred day simple moving average is $124.96. The stock has a market capitalization of $33.67 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 0.90 and a beta of 1.70.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a return on equity of 6.82% and a net margin of 4.40%. The company had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the previous year, the business posted $3.46 EPS. The business's revenue for the quarter was down 3.8% on a year-over-year basis. Sell-side analysts predict that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.51%. Nucor's dividend payout ratio is currently 39.15%.

Nucor Profile

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.