Edgestream Partners L.P. acquired a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 45,676 shares of the basic materials company's stock, valued at approximately $5,497,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Nucor during the fourth quarter worth about $25,000. Putney Financial Group LLC acquired a new stake in Nucor during the fourth quarter worth approximately $29,000. MV Capital Management Inc. grew its stake in 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 purchasing an additional 119 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in Nucor during the fourth quarter worth approximately $41,000. Finally, Park Square Financial Group LLC acquired a new stake in Nucor during the fourth quarter worth approximately $48,000. 76.48% of the stock is currently owned by institutional investors.
Nucor Price Performance
Nucor stock traded up $3.13 during midday trading on Thursday, hitting $140.92. 1,109,641 shares of the company's stock were exchanged, compared to its average volume of 2,237,665. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52. The stock has a 50-day moving average price of $124.00 and a two-hundred day moving average price of $123.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 2.52. The company has a market cap of $32.52 billion, a P/E ratio of 25.08, a PEG ratio of 0.88 and a beta of 1.70.
Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data 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 return on equity of 6.82% and a net margin of 4.40%. The firm had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. During the same quarter in the previous year, the company posted $3.46 earnings per share. Nucor's revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities research analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current year.
Nucor Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Monday, June 30th. Nucor's payout ratio is 39.15%.
Insider Buying and Selling at Nucor
In other news, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $130.37, for a total value of $1,303,700.00. Following the completion of the transaction, the executive vice president owned 94,080 shares of the company's stock, valued at approximately $12,265,209.60. This represents a 9.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total value of $906,342.56. Following the completion of the transaction, the executive vice president directly owned 99,379 shares of the company's stock, valued at $12,707,592.73. This represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,326 shares of company stock valued at $6,325,108 in the last 90 days. Insiders own 0.46% of the company's stock.
Wall Street Analysts Forecast Growth
NUE has been the subject of a number of research reports. Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. raised their price objective on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday. BMO Capital Markets raised 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 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 research note on Friday, June 20th. Finally, The Goldman Sachs Group dropped their target price on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $152.75.
Check Out Our Latest Research Report on Nucor
Nucor Company 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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