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Cullen Frost Bankers Inc. Raises Position in Nucor Corporation (NYSE:NUE)

Nucor logo with Basic Materials background

Cullen Frost Bankers Inc. raised its position in Nucor Corporation (NYSE:NUE - Free Report) by 44.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 47,686 shares of the basic materials company's stock after buying an additional 14,625 shares during the period. Cullen Frost Bankers Inc.'s holdings in Nucor were worth $5,739,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in NUE. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor in the 4th quarter valued at about $25,000. Putney Financial Group LLC bought a new stake in shares of Nucor during the fourth quarter worth approximately $29,000. MV Capital Management Inc. boosted its holdings in shares of 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 acquiring an additional 119 shares during the period. Fourth Dimension Wealth LLC bought a new stake in shares of Nucor in the fourth quarter valued at approximately $41,000. Finally, Park Square Financial Group LLC bought a new stake in shares of Nucor in the fourth quarter valued at approximately $48,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Up 2.3%

Shares of NUE stock traded up $3.13 on Thursday, reaching $140.92. 1,109,641 shares of the company were exchanged, compared to its average volume of 2,241,323. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. The company has a market cap of $32.52 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 0.88 and a beta of 1.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.52 and a quick ratio of 1.48. The company has a 50-day moving average of $124.00 and a 200-day moving average of $123.73.

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 for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a net margin of 4.40% and a return on equity of 6.82%. The business had revenue of $7.83 billion during 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. Nucor's revenue was down 3.8% compared to the same quarter last year. Analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

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

Insider Buying and Selling at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $130.37, for a total value of $1,303,700.00. Following the completion of the sale, the executive vice president 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 filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel R. Needham sold 7,088 shares of the 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 completion of the sale, the executive vice president owned 99,379 shares of the company's stock, valued at approximately $12,707,592.73. This trade represents a 6.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,326 shares of company stock worth $6,325,108. Insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

NUE has been the subject of several research analyst reports. UBS Group lowered their price target on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Morgan Stanley increased 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. Wall Street Zen downgraded Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. The Goldman Sachs Group decreased 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. Finally, BMO Capital Markets raised shares of Nucor from a "market perform" rating to an "outperform" rating and upped their price target for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Nucor has a consensus rating of "Moderate Buy" and a consensus price target of $152.75.

Check Out Our Latest Report on NUE

About Nucor

(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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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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