Janney Montgomery Scott LLC Sells 5,821 Shares of Nucor Corporation $NUE

Key Points

• Janney Montgomery Scott LLC trimmed its Nucor stake by 4.9% in the first quarter, selling 5,821 shares and leaving it with 112,715 shares valued at about $19.1 million.
• Several analysts recently turned more positive on Nucor, with firms including Bank of America, JPMorgan, Wells Fargo and KeyCorp raising price targets or upgrading the stock. The consensus rating remains Moderate Buy with an average target price of $266.92.
• Nucor reported strong quarterly results, beating earnings and revenue estimates, and it also announced a quarterly dividend of $0.56 per share to be paid on August 11.

Janney Montgomery Scott LLC lessened its position in shares of Nucor Corporation (NYSE:NUE - Free Report) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,715 shares of the basic materials company's stock after selling 5,821 shares during the period. Janney Montgomery Scott LLC's holdings in Nucor were worth $19,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in NUE. Strive Financial Group LLC acquired a new position in Nucor during the fourth quarter valued at approximately $27,000. Stance Capital LLC acquired a new stake in shares of Nucor in the 3rd quarter valued at $25,000. Mcguire Capital Advisors Inc. bought a new position in shares of Nucor in the 4th quarter valued at $32,000. Motiv8 Investments LLC acquired a new position in shares of Nucor during the 4th quarter worth $32,000. Finally, Reflection Asset Management acquired a new position in shares of Nucor during the 4th quarter worth $36,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NUE. Bank of America raised their price objective on Nucor from $265.00 to $290.00 in a research note on Friday, June 12th. JPMorgan Chase & Co. boosted their target price on Nucor from $240.00 to $282.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 10th. Wells Fargo & Company dropped their target price on shares of Nucor from $292.00 to $283.00 and set an "overweight" rating for the company in a report on Thursday, June 18th. KeyCorp upgraded shares of Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 price target on the stock in a research note on Wednesday, June 24th. Finally, BNP Paribas Exane lifted their price target on shares of Nucor from $210.00 to $248.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $266.92.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Bradley Ford sold 2,240 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total transaction of $519,971.20. Following the sale, the executive vice president directly owned 43,649 shares of the company's stock, valued at $10,132,242.37. The trade was a 4.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Randy J. Spicer sold 2,500 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $225.00, for a total transaction of $562,500.00. Following the completion of the transaction, the executive vice president owned 20,510 shares of the company's stock, valued at approximately $4,614,750. This trade represents a 10.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 82,378 shares of company stock worth $18,963,930 over the last quarter. Insiders own 0.62% of the company's stock.

Nucor Trading Down 2.6%

Shares of NUE stock opened at $222.72 on Wednesday. Nucor Corporation has a twelve month low of $128.46 and a twelve month high of $270.90. The stock's fifty day simple moving average is $237.13 and its 200 day simple moving average is $195.96. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $50.72 billion, a P/E ratio of 22.05, a P/E/G ratio of 0.54 and a beta of 1.88.

Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same period last year, the company earned $0.77 earnings per share. The business's quarterly revenue was up 21.3% on a year-over-year basis. As a group, sell-side analysts predict that Nucor Corporation will post 17 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Nucor's dividend payout ratio (DPR) is 22.18%.

Nucor Company Profile

Nucor Corporation NYSE: NUE is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor's operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.

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