Golden State Wealth Management LLC Acquires 3,680 Shares of Nucor Corporation (NYSE:NUE)

Golden State Wealth Management LLC raised its position in shares of Nucor Corporation (NYSE:NUE - Free Report) by 139.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,318 shares of the basic materials company's stock after acquiring an additional 3,680 shares during the period. Golden State Wealth Management LLC's holdings in Nucor were worth $761,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Nucor in the 4th quarter worth about $25,000. Putney Financial Group LLC acquired a new position in shares of Nucor during the 4th quarter worth approximately $29,000. MV Capital Management Inc. increased its holdings in shares of 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 shares of Nucor in the fourth quarter valued at approximately $41,000. Finally, Spirit of America Management Corp NY acquired a new stake in shares of Nucor in the first quarter valued at approximately $48,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Price Performance

Shares of NUE traded up $1.14 during midday trading on Friday, hitting $131.75. The company's stock had a trading volume of 2,860,212 shares, compared to its average volume of 2,231,595. The company has a quick ratio of 1.48, a current ratio of 2.52 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 stock has a market capitalization of $30.40 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 0.83 and a beta of 1.67. The company's fifty day simple moving average is $117.76 and its two-hundred day simple moving average is $122.25.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. The business's revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.46 EPS. As a group, equities analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Monday, June 30th. Nucor's payout ratio is 39.15%.

Insider Activity at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $120.19, for a total value of $4,115,065.22. Following the completion of the transaction, the chief executive officer now owns 162,993 shares of the company's stock, valued at $19,590,128.67. This represents a 17.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction dated Tuesday, June 24th. The shares were 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 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 disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $140.00 to $145.00 in a report on Monday, June 2nd. UBS Group decreased their price target on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. The Goldman Sachs Group dropped their price target on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Wall Street Zen cut shares of Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $150.00.

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.