Global Assets Advisory LLC Makes New $512,000 Investment in Nucor Corporation (NYSE:NUE)

Global Assets Advisory LLC bought a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,533 shares of the basic materials company's stock, valued at approximately $512,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Nucor in the fourth quarter valued at $25,000. Putney Financial Group LLC bought a new position in Nucor during the 4th quarter valued at about $29,000. MV Capital Management Inc. raised its position in 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 purchasing an additional 119 shares during the period. Fourth Dimension Wealth LLC bought a new stake in Nucor in the fourth quarter worth about $41,000. Finally, Spirit of America Management Corp NY purchased a new position in shares of Nucor during the first quarter valued at approximately $48,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction that occurred on 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 now owns 99,379 shares of the company's stock, valued at $12,707,592.73. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Leon J. Topalian sold 34,238 shares of Nucor 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 now directly owns 162,993 shares in the company, valued at $19,590,128.67. This represents a 17.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

NUE has been the topic of several recent analyst reports. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $140.00 to $145.00 in a report on Monday, June 2nd. JPMorgan Chase & Co. reduced their target price on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Wall Street Zen lowered shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Morgan Stanley raised their price target on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Finally, Argus set a $155.00 price objective on shares of Nucor in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Nucor presently has an average rating of "Moderate Buy" and an average target price of $155.56.

Nucor Stock Up 2.0%

Nucor stock traded up $2.54 during midday trading on Thursday, hitting $130.75. 1,838,220 shares of the company's stock were exchanged, compared to its average volume of 2,226,637. 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 $30.17 billion, a PE ratio of 23.27, a P/E/G ratio of 0.83 and a beta of 1.67. The firm has a 50-day moving average of $117.36 and a two-hundred day moving average of $122.35. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52.

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). The business had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. Nucor had a return on equity of 6.82% and a net margin of 4.40%. Nucor's revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.46 EPS. As a group, analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.68%. Nucor's dividend payout ratio is presently 39.15%.

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.