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Lakeside Advisors INC. Has $5.93 Million Stock Holdings in Nucor Corporation (NYSE:NUE)

Nucor logo with Basic Materials background

Lakeside Advisors INC. grew its position in Nucor Corporation (NYSE:NUE - Free Report) by 22.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,237 shares of the basic materials company's stock after buying an additional 9,059 shares during the quarter. Nucor accounts for about 3.9% of Lakeside Advisors INC.'s portfolio, making the stock its 5th largest holding. Lakeside Advisors INC.'s holdings in Nucor were worth $5,925,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Nucor in the 4th quarter valued at approximately $398,077,000. GAMMA Investing LLC increased its position in Nucor by 17,785.0% in the 1st quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company's stock valued at $60,867,000 after acquiring an additional 502,961 shares during the period. First Trust Advisors LP increased its position in Nucor by 24.6% in 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 acquiring an additional 474,274 shares during the period. Voya Investment Management LLC increased its position in Nucor by 528.6% in 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. increased its position in Nucor by 18.7% in the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock valued at $284,220,000 after acquiring an additional 384,205 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Down 0.6%

Shares of NUE stock traded down $0.88 on Friday, hitting $142.43. The stock had a trading volume of 1,242,965 shares, compared to its average volume of 2,245,837. The business has a 50 day moving average of $122.69 and a 200 day moving average of $123.32. The stock has a market cap of $32.87 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 0.92 and a beta of 1.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.52 and a quick ratio of 1.48. 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 earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). The firm had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. The business's revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.46 EPS. As a group, analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.54%. Nucor's dividend payout ratio (DPR) is presently 39.15%.

Insider Buying and Selling

In other news, CEO Leon J. Topalian sold 34,238 shares of the firm'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 value of $4,115,065.22. Following the completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were 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 of the company's stock, valued at $12,265,209.60. This trade represents a 9.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,326 shares of company stock worth $6,325,108. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NUE. Morgan Stanley increased their price objective on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. UBS Group decreased their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. The Goldman Sachs Group decreased their price objective on shares of Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Monday, April 7th. BMO Capital Markets raised shares of Nucor from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Nucor presently has a consensus rating of "Moderate Buy" and a consensus price target of $150.00.

Read Our Latest Report on NUE

Nucor Company Profile

(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.

See Also

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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