Consolidated Capital Management LLC Purchases 10,793 Shares of Nucor Corporation $NUE

Key Points

• Consolidated Capital Management LLC increased its stake in Nucor Corporation by 22.2%, acquiring 10,793 additional shares, which now represents approximately 2.8% of its investment portfolio.
• Nucor's quarterly earnings report showed an EPS of $2.60, exceeding analysts' expectations of $2.54, with revenue reaching $8.46 billion.
• The company has declared a quarterly dividend of $0.55 per share, payable on November 10th, representing a yield of 1.6% and a dividend payout ratio of 39.71%.

Consolidated Capital Management LLC boosted its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 22.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,497 shares of the basic materials company's stock after purchasing an additional 10,793 shares during the period. Nucor comprises approximately 2.8% of Consolidated Capital Management LLC's investment portfolio, making the stock its 15th biggest position. Consolidated Capital Management LLC's holdings in Nucor were worth $7,707,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Matrix Trust Co lifted its position in shares of Nucor by 53.8% during the 2nd quarter. Matrix Trust Co now owns 240 shares of the basic materials company's stock worth $31,000 after buying an additional 84 shares during the last quarter. MV Capital Management Inc. lifted its holdings in shares of Nucor by 73.5% in the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after acquiring an additional 119 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 153 shares in the last quarter. Spirit of America Management Corp NY bought a new stake in shares of Nucor during the 1st quarter valued at approximately $48,000. Finally, Meeder Asset Management Inc. increased its position in Nucor by 209.6% during the 1st quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company's stock worth $50,000 after purchasing an additional 283 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Activity

In related news, EVP Kenneth Rex Query sold 10,000 shares of Nucor stock in a transaction on Monday, August 18th. The shares were sold at an average price of $144.90, for a total transaction of $1,449,000.00. Following the completion of the transaction, the executive vice president owned 84,080 shares of the company's stock, valued at $12,183,192. This trade represents a 10.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael D. Keller sold 6,088 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total transaction of $903,520.08. Following the completion of the transaction, the insider owned 22,464 shares in the company, valued at approximately $3,333,882.24. The trade was a 21.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,309 shares of company stock worth $4,553,771 over the last quarter. Company insiders own 0.46% of the company's stock.

Nucor Stock Performance

NYSE NUE opened at $138.13 on Friday. The company has a market capitalization of $31.71 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 0.95 and a beta of 1.76. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. The stock has a fifty day simple moving average of $142.54 and a 200 day simple moving average of $128.78.

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

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 annualized dividend and a yield of 1.6%. Nucor's dividend payout ratio (DPR) is presently 39.71%.

Analysts Set New Price Targets

A number of analysts have weighed in on NUE shares. Bank of America raised their target price on shares of Nucor from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Monday, September 15th. 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 research note on Monday, June 2nd. Morgan Stanley raised their price objective on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Jefferies Financial Group raised Nucor from a "hold" rating to a "buy" rating and upped their target price for the stock from $135.00 to $170.00 in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $156.60.

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.

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