Covea Finance raised its position in Nucor Corporation (NYSE:NUE - Free Report) by 53.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 76,640 shares of the basic materials company's stock after acquiring an additional 26,640 shares during the period. Covea Finance's holdings in Nucor were worth $9,223,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Nucor during the 4th quarter worth approximately $25,000. Putney Financial Group LLC bought a new stake in shares of Nucor during the 4th quarter worth approximately $29,000. MV Capital Management Inc. raised its stake in shares of Nucor by 73.5% during the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after purchasing an additional 119 shares in the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of Nucor during the 4th quarter worth approximately $41,000. Finally, Park Square Financial Group LLC bought a new stake in shares of Nucor during the 4th quarter worth approximately $48,000. Institutional investors own 76.48% of the company's stock.
Insider Activity at Nucor
In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of Nucor stock in a transaction dated 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 transaction, the chief executive officer now owns 162,993 shares in the company, valued at $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is owned by insiders.
Nucor Stock Performance
Shares of NYSE:NUE traded down $2.10 on Friday, hitting $124.08. The company had a trading volume of 4,984,884 shares, compared to its average volume of 2,229,904. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. The stock has a market cap of $28.63 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 0.78 and a beta of 1.67. The stock has a 50 day moving average price of $116.31 and a 200 day moving average price of $122.54. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $170.52.
Nucor (NYSE:NUE - Get Free Report) last posted 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). The firm had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.25 billion. Nucor had a return on equity of 6.82% and a net margin of 4.40%. The firm's quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.46 EPS. Analysts expect that Nucor Corporation will post 7.64 EPS for the current year.
Nucor Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors 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 yield of 1.77%. The ex-dividend date of this dividend is Monday, June 30th. Nucor's dividend payout ratio (DPR) is presently 39.15%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on NUE. Morgan Stanley upped their price objective on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday. The Goldman Sachs Group dropped their price objective on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. Argus set a $155.00 price objective on Nucor in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their price target on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Nucor presently has an average rating of "Moderate Buy" and a consensus target price of $155.56.
Check Out Our Latest Report on NUE
About Nucor
(
Free Report)
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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