CWA Asset Management Group LLC Increases Stock Position in Nucor Corporation (NYSE:NUE)

CWA Asset Management Group LLC boosted its stake in Nucor Corporation (NYSE:NUE - Free Report) by 134.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,880 shares of the basic materials company's stock after purchasing an additional 2,797 shares during the quarter. CWA Asset Management Group LLC's holdings in Nucor were worth $587,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Canal Capital Management LLC grew its holdings in shares of Nucor by 2.5% during the fourth quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company's stock valued at $359,000 after buying an additional 75 shares during the last quarter. Horrell Capital Management Inc. grew its holdings in shares of Nucor by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company's stock valued at $3,111,000 after buying an additional 76 shares during the last quarter. Highline Wealth Partners LLC grew its holdings in shares of Nucor by 2.6% during the first quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company's stock valued at $423,000 after buying an additional 90 shares during the last quarter. Diligent Investors LLC grew its holdings in shares of Nucor by 4.6% during the first quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company's stock valued at $276,000 after buying an additional 102 shares during the last quarter. Finally, King Luther Capital Management Corp grew its holdings in shares of Nucor by 1.0% during the fourth quarter. King Luther Capital Management Corp now owns 10,777 shares of the basic materials company's stock valued at $1,258,000 after buying an additional 105 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Down 1.7%

Nucor stock traded down $2.10 during midday trading on Friday, hitting $124.08. 4,984,884 shares of the stock were exchanged, compared to its average volume of 2,229,904. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $28.63 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 0.78 and a beta of 1.67. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52. The business's 50-day moving average price is $116.31 and its 200-day moving average price is $122.54.

Nucor (NYSE:NUE - Get Free Report) last released its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share 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 firm's revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.46 earnings per share. On average, research analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced 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. This represents a $2.20 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Monday, June 30th. Nucor's payout ratio is 39.15%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NUE shares. Argus set a $155.00 price objective on shares of Nucor in a report on Wednesday, March 5th. Wall Street Zen cut shares of Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $140.00 to $145.00 in a report on Monday, June 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Morgan Stanley lifted their price objective on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Nucor has an average rating of "Moderate Buy" and a consensus target price of $155.56.

Insider Buying and Selling at Nucor

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 transaction, the chief executive officer now directly owns 162,993 shares in the company, valued at $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.46% of the company's stock.

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.