Nucor Corporation (NYSE:NUE) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 21.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,459 shares of the basic materials company's stock after buying an additional 17,861 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Nucor were worth $12,210,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Nucor in the 4th quarter valued at about $25,000. Putney Financial Group LLC purchased a new position in shares of Nucor during the 4th quarter worth about $29,000. MV Capital Management Inc. lifted its holdings 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 acquiring an additional 119 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in Nucor during the 4th quarter worth approximately $41,000. Finally, Park Square Financial Group LLC acquired a new stake in Nucor during the 4th quarter worth approximately $48,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group lowered 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. Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Morgan Stanley raised their price target on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday. JPMorgan Chase & Co. lowered their price target on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $140.00 to $145.00 in a report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Nucor has an average rating of "Moderate Buy" and a consensus target price of $155.56.

Nucor Stock Down 1.7%

NUE stock opened at $124.08 on Monday. The business has a 50-day moving average of $116.31 and a 200-day moving average of $122.38. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.52 and a quick ratio of 1.48. The stock has a market capitalization of $28.63 billion, a P/E ratio of 22.08, a P/E/G ratio of 0.78 and a beta of 1.68.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). Nucor had a net margin of 4.40% and a return on equity of 6.82%. The business had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same period in the previous year, the business earned $3.46 earnings per share. The business's quarterly revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be given 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 1.77%. Nucor's dividend payout ratio is currently 39.15%.

Insiders Place Their Bets

In related news, CEO Leon J. Topalian sold 34,238 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the transaction, the chief executive officer now directly owns 162,993 shares of the company's stock, valued at approximately $19,590,128.67. This represents a 17.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.71% of the company's stock.

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.

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