J.W. Cole Advisors Inc. Has $2.35 Million Stake in Nucor Corporation (NYSE:NUE)

J.W. Cole Advisors Inc. grew its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 819.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,539 shares of the basic materials company's stock after buying an additional 17,415 shares during the period. J.W. Cole Advisors Inc.'s holdings in Nucor were worth $2,351,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Canal Capital Management LLC increased its stake in Nucor by 2.5% during the 4th quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company's stock worth $359,000 after acquiring an additional 75 shares during the period. Horrell Capital Management Inc. increased its stake in Nucor by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company's stock worth $3,111,000 after acquiring an additional 76 shares during the period. Highline Wealth Partners LLC increased its stake in Nucor by 2.6% during the 1st quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company's stock worth $423,000 after acquiring an additional 90 shares during the period. Diligent Investors LLC increased its stake in Nucor by 4.6% during the 1st quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company's stock worth $276,000 after acquiring an additional 102 shares during the period. Finally, Denali Advisors LLC increased its stake in Nucor by 2.5% during the 1st quarter. Denali Advisors LLC now owns 4,117 shares of the basic materials company's stock worth $495,000 after acquiring an additional 102 shares during the period. Institutional investors own 76.48% of the company's stock.

Insider Transactions at Nucor

In related news, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction on 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 sale, the chief executive officer owned 162,993 shares in the company, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total value of $906,342.56. Following the completion of the sale, the executive vice president owned 99,379 shares in the company, valued at $12,707,592.73. This trade represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,326 shares of company stock valued at $6,325,108 over the last three months. Company insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NUE shares. The Goldman Sachs Group decreased their price target on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. raised their price objective on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a report on Monday, July 14th. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $140.00 to $145.00 in a report on Monday, June 2nd. Morgan Stanley raised their price objective on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Finally, Wall Street Zen downgraded Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $152.75.

Nucor Stock Performance

NUE stock opened at $142.21 on Tuesday. The firm has a market cap of $32.81 billion, a PE ratio of 22.83, a P/E/G ratio of 0.89 and a beta of 1.70. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $125.02 and a 200-day moving average of $124.18. 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 data 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). Nucor had a net margin of 4.40% and a return on equity of 6.82%. The firm had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period last year, the company posted $3.46 earnings per share. Nucor's revenue for the quarter was down 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Nucor Corporation will post 7.64 earnings per share for the current 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. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Monday, June 30th. Nucor's payout ratio is currently 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.

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