Nucor Corporation $NUE Shares Purchased by Coppell Advisory Solutions LLC

Key Points

• Coppell Advisory Solutions LLC significantly increased its stake in Nucor Corporation by 6,275.8% during Q1, acquiring over 31,000 additional shares worth approximately $3.8 million.
• Multiple brokerages have upgraded their ratings for Nucor, with BMO Capital Markets raising the price target from $140 to $145 and Morgan Stanley increasing it from $134 to $149, indicating growing confidence in the stock.
• Nucor announced a quarterly dividend of $0.55, set to be paid on November 10, reflecting a dividend yield of 1.5% and a payout ratio of approximately 39.71%.

Coppell Advisory Solutions LLC lifted its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 6,275.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,560 shares of the basic materials company's stock after buying an additional 31,065 shares during the quarter. Coppell Advisory Solutions LLC's holdings in Nucor were worth $3,798,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NUE. Diamond Hill Capital Management Inc. purchased a new stake in Nucor during the first quarter worth $194,804,000. Nuveen LLC purchased a new stake in Nucor during the first quarter worth $141,216,000. Vanguard Group Inc. boosted its position in Nucor by 2.6% during the first quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company's stock worth $3,484,965,000 after purchasing an additional 745,671 shares in the last quarter. GAMMA Investing LLC boosted its position in Nucor by 17,785.0% during the first quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company's stock worth $60,867,000 after purchasing an additional 502,961 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Nucor by 18.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company's stock worth $277,920,000 after purchasing an additional 355,364 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Trading Down 1.6%

NYSE NUE traded down $2.28 during trading hours on Friday, hitting $141.47. 929,924 shares of the company's stock were exchanged, compared to its average volume of 1,279,063. The business's 50 day moving average is $143.11 and its 200-day moving average is $128.45. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The firm has a market capitalization of $32.47 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 0.91 and a beta of 1.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83.

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

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 annualized dividend and a yield of 1.6%. Nucor's dividend payout ratio is currently 39.71%.

Insider Buying and Selling

In other news, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the sale, the executive vice president owned 84,080 shares in the company, valued at approximately $12,183,192. This trade represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael D. Keller sold 6,088 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the sale, the insider owned 22,464 shares of the company's stock, valued at approximately $3,333,882.24. This trade represents a 21.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,397 shares of company stock worth $6,763,814 in the last ninety days. 0.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on NUE. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $140.00 to $145.00 in a research report on Monday, June 2nd. UBS Group reduced their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Wells Fargo & Company upgraded Nucor to a "hold" rating in a research report on Thursday, August 14th. Morgan Stanley upped their price objective on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Finally, Jefferies Financial Group upgraded Nucor from a "hold" rating to a "buy" rating and upped their price objective for the company from $135.00 to $170.00 in a research report on Thursday, July 31st. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Nucor presently has a consensus rating of "Moderate Buy" and an average price target of $155.78.

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.