CX Institutional Increases Stake in Nucor Co. (NYSE:NUE)

CX Institutional boosted its holdings in Nucor Co. (NYSE:NUE - Free Report) by 41.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,334 shares of the basic materials company's stock after purchasing an additional 5,358 shares during the period. CX Institutional's holdings in Nucor were worth $2,206,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Nucor in the fourth quarter worth $398,077,000. GAMMA Investing LLC lifted its position in shares of Nucor by 17,785.0% during the 1st quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company's stock valued at $60,867,000 after buying an additional 502,961 shares in the last quarter. First Trust Advisors LP raised its stake in Nucor by 24.6% during the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock valued at $280,627,000 after purchasing an additional 474,274 shares during the period. Voya Investment Management LLC boosted its holdings in Nucor by 528.6% during the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock valued at $59,235,000 after acquiring an additional 426,949 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Nucor by 18.7% during the 4th 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 last quarter. Institutional investors own 76.48% of the company's stock.

Insider Activity at Nucor

In related news, CEO Leon J. Topalian sold 34,238 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total transaction 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 approximately $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is owned by insiders.

Nucor Trading Up 2.9%

Shares of NYSE NUE traded up $3.39 during midday trading on Friday, reaching $121.84. 3,303,641 shares of the stock were exchanged, compared to its average volume of 2,212,097. The company has a market capitalization of $28.11 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 0.96 and a beta of 1.68. Nucor Co. has a 12 month low of $97.59 and a 12 month high of $170.52. The business has a 50-day simple moving average of $115.00 and a two-hundred day simple moving average of $123.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The company had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. The firm's quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company posted $3.46 EPS. As a group, equities research analysts expect that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Shareholders 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 1.81%. The ex-dividend date of this dividend is Monday, June 30th. Nucor's dividend payout ratio (DPR) is 39.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NUE shares. Wall Street Zen downgraded Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and increased their target price for the company from $140.00 to $145.00 in a report on Monday, June 2nd. JPMorgan Chase & Co. dropped their target price on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Argus set a $155.00 price objective on Nucor in a research report on Wednesday, March 5th. Finally, UBS Group reduced their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $157.22.

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.