Evergreen Capital Management LLC Has $1.09 Million Stock Holdings in Nucor Corporation $NUE

Key Points

• Evergreen Capital Management LLC increased its stake in Nucor Corporation by 119.1%, now holding approximately $1.09 million worth of shares.
• Nucor recently reported a quarterly EPS of $2.60, exceeding expectations, with a year-over-year revenue increase of 4.7%.
• Several investment firms have revised their price targets for Nucor, with analysts generally rating the stock as a "Moderate Buy" and setting an average target price of $155.78.

Evergreen Capital Management LLC boosted its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 119.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 8,984 shares of the basic materials company's stock after acquiring an additional 4,883 shares during the period. Evergreen Capital Management LLC's holdings in Nucor were worth $1,086,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of NUE. Putney Financial Group LLC acquired a new position in shares of Nucor in the 4th quarter valued at $29,000. MV Capital Management Inc. grew its holdings 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 valued at $34,000 after buying an additional 119 shares during the period. Fourth Dimension Wealth LLC acquired a new position in shares of Nucor in the 4th quarter valued at $41,000. Park Square Financial Group LLC acquired a new position in shares of Nucor in the 4th quarter valued at $48,000. Finally, Spirit of America Management Corp NY acquired a new position in shares of Nucor in the 1st quarter valued at $48,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Trading Down 0.7%

NYSE NUE opened at $148.82 on Friday. The stock's 50 day moving average price is $140.71 and its two-hundred day moving average price is $127.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The stock has a market capitalization of $34.16 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 0.95 and a beta of 1.74.

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

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, June 30th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.5%. Nucor's payout ratio is 39.71%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NUE shares. UBS Group decreased 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. Jefferies Financial Group raised shares of Nucor from a "hold" rating to a "buy" rating and boosted their price target for the company from $135.00 to $170.00 in a report on Thursday, July 31st. BMO Capital Markets raised shares of Nucor from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. Morgan Stanley increased their target price on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Finally, Wells Fargo & Company upgraded Nucor to a "hold" rating in a report on Thursday, August 14th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Nucor has a consensus rating of "Moderate Buy" and an average target price of $155.78.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 84,080 shares of the company's stock, valued at $12,183,192. The trade was a 10.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Daniel R. Needham sold 7,200 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the sale, the executive vice president directly owned 92,179 shares in the company, valued at $13,458,134. This trade represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,397 shares of company stock valued at $6,763,814. Corporate insiders own 0.46% of the company's stock.

About Nucor

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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