New Age Alpha Advisors LLC Purchases 5,126 Shares of Nucor Corporation (NYSE:NUE)

Key Points

• New Age Alpha Advisors LLC increased its holdings in Nucor Corporation (NYSE:NUE) by 30.5%, acquiring an additional 5,126 shares during the first quarter, bringing their total to 21,929 shares valued at approximately $2.639 million.
• Nucor reported $2.60 earnings per share (EPS) for the last quarter, surpassing the consensus estimate of $2.54, with a revenue of $8.46 billion.
• The company has declared a quarterly dividend of $0.55 per share, which will be paid on August 11th, representing an annualized dividend yield of 1.6%.

New Age Alpha Advisors LLC boosted its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 30.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,929 shares of the basic materials company's stock after purchasing an additional 5,126 shares during the quarter. New Age Alpha Advisors LLC's holdings in Nucor were worth $2,639,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NUE. Invesco Ltd. grew its holdings in Nucor by 18.7% in the fourth quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock worth $284,220,000 after purchasing an additional 384,205 shares during the period. Bank of Nova Scotia grew its holdings in Nucor by 212.2% in the fourth quarter. Bank of Nova Scotia now owns 116,424 shares of the basic materials company's stock worth $13,588,000 after purchasing an additional 79,137 shares during the period. Texas Yale Capital Corp. grew its holdings in Nucor by 11.4% in the fourth quarter. Texas Yale Capital Corp. now owns 2,935 shares of the basic materials company's stock worth $343,000 after purchasing an additional 300 shares during the period. Raymond James Financial Inc. purchased a new stake in Nucor in the fourth quarter worth about $38,714,000. Finally, DRW Securities LLC purchased a new stake in Nucor in the fourth quarter worth about $327,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Stock Performance

NUE stock traded up $1.32 on Friday, hitting $139.11. The company had a trading volume of 1,066,756 shares, compared to its average volume of 1,747,630. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The stock's 50-day simple moving average is $133.57 and its 200 day simple moving average is $126.22. The stock has a market cap of $32.10 billion, a price-to-earnings ratio of 25.11, a P/E/G ratio of 0.88 and a beta of 1.74.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The company had revenue of $8.46 billion for the quarter, compared to analysts' expectations of $8.47 billion. During the same quarter last year, the company posted $2.68 earnings per share. The firm's quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be given a $0.55 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.6%. Nucor's dividend payout ratio (DPR) is presently 39.71%.

Insiders Place Their Bets

In other Nucor news, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $143.38, for a total value of $1,150,050.98. Following the transaction, the executive vice president directly owned 82,703 shares in the company, valued at approximately $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the completion of the transaction, the executive vice president owned 94,080 shares in the company, valued at $12,265,209.60. The trade was a 9.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,109 shares of company stock worth $3,360,094. Company insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NUE shares. JPMorgan Chase & Co. increased their price target on shares of Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Jefferies Financial Group upgraded shares of Nucor from a "hold" rating to a "buy" rating and increased their price target for the company from $135.00 to $170.00 in a report on Thursday, July 31st. Morgan Stanley increased their price target on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and increased their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. Finally, Wall Street Zen cut shares of Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $157.13.

About Nucor

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.