Calton & Associates Inc. Takes $817,000 Position in Nucor Corporation (NYSE:NUE)

Calton & Associates Inc. acquired a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,787 shares of the basic materials company's stock, valued at approximately $817,000.

A number of other large investors have also added to or reduced their stakes in NUE. Marshall & Sterling Wealth Advisors Inc. bought a new position in Nucor during the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new position in Nucor during the fourth quarter worth about $29,000. MV Capital Management Inc. boosted its position in Nucor by 73.5% during the first 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 period. Fourth Dimension Wealth LLC bought a new position in Nucor during the fourth quarter worth about $41,000. Finally, Park Square Financial Group LLC bought a new position in Nucor during the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Price Performance

Shares of NUE stock traded down $0.11 during trading hours on Friday, hitting $140.64. 1,492,192 shares of the company's stock were exchanged, compared to its average volume of 2,244,048. The company has a market capitalization of $32.45 billion, a PE ratio of 25.02, a PEG ratio of 0.89 and a beta of 1.70. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The business's 50 day simple moving average is $125.02 and its 200-day simple moving average is $124.12. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32.

Nucor (NYSE:NUE - Get Free Report) last issued its 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 firm had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. During the same period in the previous year, the firm earned $3.46 earnings per share. The firm's quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Monday, June 30th. Nucor's dividend payout ratio (DPR) is currently 39.15%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Wall Street Zen lowered shares of Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. UBS Group cut their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. The Goldman Sachs Group cut their price objective on shares of Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $152.75.

Insider Activity at Nucor

In other news, EVP Kenneth Rex Query sold 10,000 shares of Nucor stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $130.37, for a total value of $1,303,700.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leon J. Topalian sold 34,238 shares of Nucor stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $120.19, for a total value of $4,115,065.22. Following the completion of the transaction, the chief executive officer directly owned 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 disclosure for this sale can be found here. Insiders have sold a total of 51,326 shares of company stock worth $6,325,108 over the last quarter. Corporate insiders own 0.71% of the company's stock.

Nucor Company 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.