Consolidated Capital Management LLC bought a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 48,704 shares of the basic materials company's stock, valued at approximately $5,861,000. Nucor accounts for about 2.4% of Consolidated Capital Management LLC's holdings, making the stock its 16th largest position.
Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Nucor by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company's stock valued at $701,255,000 after purchasing an additional 105,309 shares during the last quarter. Norges Bank acquired a new stake in shares of Nucor in the 4th quarter valued at $398,077,000. Invesco Ltd. raised its holdings in shares of Nucor by 18.7% in the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock valued at $284,220,000 after purchasing an additional 384,205 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Nucor by 24.6% in the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock valued at $280,627,000 after purchasing an additional 474,274 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Nucor by 7.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,384,590 shares of the basic materials company's stock valued at $161,595,000 after purchasing an additional 96,375 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.
Nucor Price Performance
Shares of NUE traded down $0.88 during trading hours on Friday, reaching $142.43. The company had a trading volume of 1,242,965 shares, compared to its average volume of 2,242,512. The firm has a 50 day simple moving average of $122.69 and a 200-day simple moving average of $123.28. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $32.87 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 0.92 and a beta of 1.70. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52.
Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The company had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. The business's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.46 EPS. Research analysts expect that Nucor Corporation will post 7.64 earnings per share for the current year.
Nucor Dividend Announcement
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 dividend of $0.55 per share. The ex-dividend date is Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.54%. Nucor's dividend payout ratio (DPR) is currently 39.15%.
Insider Buying and Selling at Nucor
In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were 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 approximately $12,265,209.60. This trade represents a 9.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction 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 disclosure for this sale can be found here. In the last three months, insiders sold 51,326 shares of company stock worth $6,325,108. 0.46% of the stock is owned by corporate insiders.
Analyst Ratings Changes
NUE has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. 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 report on Monday, June 2nd. The Goldman Sachs Group reduced their price objective 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 upped their price objective on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Finally, Wall Street Zen downgraded shares of Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. One investment 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.00.
Check Out Our Latest Analysis on NUE
Nucor 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.
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