G&S Capital LLC Makes New $300,000 Investment in Nucor Corporation (NYSE:NUE)

G&S Capital LLC acquired a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,490 shares of the basic materials company's stock, valued at approximately $300,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NUE. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor during the fourth quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new position in Nucor during the 4th quarter worth approximately $29,000. MV Capital Management Inc. raised its stake in Nucor by 73.5% during the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 119 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in shares of Nucor in the fourth quarter valued at $41,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of Nucor in the fourth quarter worth $48,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NUE shares. UBS Group dropped 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. Wall Street Zen downgraded Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Morgan Stanley increased their price target on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $140.00 to $145.00 in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Nucor has an average rating of "Moderate Buy" and an average price target of $150.00.

Insider Buying and Selling

In other news, EVP Daniel R. Needham sold 7,088 shares of Nucor stock in a transaction that occurred 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 now owns 99,379 shares of the company's stock, valued at $12,707,592.73. This trade 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 this hyperlink. Also, CEO Leon J. Topalian sold 34,238 shares of the business'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 sale, the chief executive officer now owns 162,993 shares of the company's stock, valued at $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company's stock.

Nucor Trading Up 0.9%

Shares of NYSE NUE opened at $131.75 on Monday. The business has a 50 day simple moving average of $118.18 and a 200 day simple moving average of $122.01. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The stock has a market cap of $30.40 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 0.85 and a beta of 1.68. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 2.52.

Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS 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 the consensus estimate of $7.25 billion. Nucor had a return on equity of 6.82% and a net margin of 4.40%. The business's revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.46 earnings per share. On average, research analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, June 30th. 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.

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