Cwm LLC Sells 1,832 Shares of Nucor Corporation (NYSE:NUE)

CWM LLC lowered its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 7.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 23,996 shares of the basic materials company's stock after selling 1,832 shares during the period. CWM LLC's holdings in Nucor were worth $2,888,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Nucor in the 4th quarter worth approximately $25,000. Putney Financial Group LLC purchased a new position in shares of Nucor in the 4th quarter worth approximately $29,000. MV Capital Management Inc. boosted its stake in shares of Nucor by 73.5% in the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after buying an additional 119 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of Nucor in the 4th quarter worth approximately $41,000. Finally, Spirit of America Management Corp NY purchased a new position in shares of Nucor in the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group cut their target price on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. JPMorgan Chase & Co. lifted their price target on shares of Nucor from $143.00 to $162.00 and gave the stock an "overweight" rating in a report on Monday. BMO Capital Markets raised shares of Nucor from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $140.00 to $145.00 in a report on Monday, June 2nd. Morgan Stanley lifted their price target on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Finally, The Goldman Sachs Group lowered their price target 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Nucor has an average rating of "Moderate Buy" and a consensus price target of $152.75.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 7,088 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total value of $906,342.56. Following the transaction, the executive vice president owned 99,379 shares of the company's stock, valued at approximately $12,707,592.73. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Leon J. Topalian sold 34,238 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the transaction, the chief executive officer directly owned 162,993 shares in the company, valued at approximately $19,590,128.67. The trade was a 17.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,326 shares of company stock valued at $6,325,108 in the last 90 days. 0.46% of the stock is currently owned by company insiders.

Nucor Stock Performance

Shares of NYSE:NUE traded down $0.11 during mid-day trading on Friday, reaching $140.64. The company had a trading volume of 1,492,192 shares, compared to its average volume of 2,241,330. The company's 50-day moving average price is $124.51 and its 200-day moving average price is $123.90. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. The firm has a market cap of $32.45 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 0.88 and a beta of 1.70.

Nucor (NYSE:NUE - Get Free Report) last issued its 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). Nucor had a net margin of 4.40% and a return on equity of 6.82%. The business had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the previous year, the firm earned $3.46 EPS. The company's revenue was down 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

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 of this dividend is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.56%. Nucor's payout ratio is 39.15%.

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.