Columbus Macro LLC Purchases 4,673 Shares of Nucor Co. (NYSE:NUE)

Columbus Macro LLC raised its stake in Nucor Co. (NYSE:NUE - Free Report) by 16.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,704 shares of the basic materials company's stock after acquiring an additional 4,673 shares during the period. Columbus Macro LLC's holdings in Nucor were worth $4,056,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Voya Investment Management LLC increased its holdings in Nucor by 528.6% in the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock valued at $59,235,000 after acquiring an additional 426,949 shares during the last quarter. DoubleLine ETF Adviser LP bought a new stake in Nucor in the 4th quarter valued at $3,100,000. Virtu Financial LLC bought a new stake in Nucor in the 4th quarter valued at $2,640,000. NBC Securities Inc. increased its holdings in Nucor by 132,300.0% in the 1st quarter. NBC Securities Inc. now owns 1,324 shares of the basic materials company's stock valued at $159,000 after acquiring an additional 1,323 shares during the last quarter. Finally, Metis Global Partners LLC increased its holdings in Nucor by 8.8% in the 4th quarter. Metis Global Partners LLC now owns 23,449 shares of the basic materials company's stock valued at $2,737,000 after acquiring an additional 1,895 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NUE has been the topic of a number of research reports. Wall Street Zen downgraded shares of Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. UBS Group reduced their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. The Goldman Sachs Group reduced their target price on shares of Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Morgan Stanley set a $164.00 target price on shares of Nucor in a report on Monday, March 24th. Finally, Argus set a $155.00 target price on shares of Nucor in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $157.22.

Nucor Price Performance

NUE stock opened at $121.84 on Monday. Nucor Co. has a 12 month low of $97.59 and a 12 month 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. The company has a 50-day moving average price of $115.00 and a 200 day moving average price of $123.36. The stock has a market cap of $28.11 billion, a PE ratio of 14.49, a P/E/G ratio of 0.96 and a beta of 1.67.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). Nucor had a return on equity of 9.85% and a net margin of 6.60%. The firm had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.25 billion. During the same period in the prior year, the firm posted $3.46 earnings per share. Nucor's revenue for the quarter was down 3.8% on a year-over-year basis. Equities research analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.81%. Nucor's dividend payout ratio is presently 39.15%.

Insider Buying and Selling

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the business's 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 completion of the sale, the chief executive officer now directly owns 162,993 shares of the company's stock, valued at $19,590,128.67. The trade was a 17.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.