Braun Stacey Associates Inc. Boosts Position in Nucor Corporation (NYSE:NUE)

Braun Stacey Associates Inc. lifted its position in Nucor Corporation (NYSE:NUE - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,614 shares of the basic materials company's stock after buying an additional 5,669 shares during the quarter. Braun Stacey Associates Inc. owned about 0.06% of Nucor worth $15,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NUE. Smartleaf Asset Management LLC lifted its holdings in shares of Nucor by 23.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,475 shares of the basic materials company's stock worth $171,000 after buying an additional 277 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Nucor by 50.8% during the fourth quarter. Jones Financial Companies Lllp now owns 5,419 shares of the basic materials company's stock worth $632,000 after buying an additional 1,826 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Nucor during the fourth quarter worth $64,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nucor by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company's stock worth $196,127,000 after buying an additional 68,252 shares in the last quarter. Finally, Keybank National Association OH increased its position in shares of Nucor by 4.7% in the fourth quarter. Keybank National Association OH now owns 18,365 shares of the basic materials company's stock worth $2,143,000 after purchasing an additional 828 shares during the period. 76.48% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Kenneth Rex Query sold 10,000 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the completion of the sale, the executive vice president directly owned 94,080 shares of the company's stock, valued at $12,265,209.60. This trade represents a 9.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Leon J. Topalian sold 34,238 shares of the firm's stock in a transaction 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 sale, the chief executive officer directly owned 162,993 shares of the company's stock, valued at approximately $19,590,128.67. This represents a 17.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,326 shares of company stock valued at $6,325,108 in the last ninety days. 0.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NUE. JPMorgan Chase & Co. decreased their price target on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. UBS Group reduced their price target on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Finally, Morgan Stanley boosted their price target on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Nucor currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.00.

Nucor Stock Down 0.6%

NYSE NUE traded down $0.76 on Monday, reaching $137.11. The company had a trading volume of 1,546,149 shares, compared to its average volume of 2,239,667. The stock has a market capitalization of $31.64 billion, a P/E ratio of 24.40, a P/E/G ratio of 0.88 and a beta of 1.70. The company's fifty day moving average is $120.58 and its 200 day moving average is $122.54. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.32.

Nucor (NYSE:NUE - Get Free Report) last released 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). Nucor had a net margin of 4.40% and a return on equity of 6.82%. The company had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. During the same period in the previous year, the company posted $3.46 earnings per share. The company's quarterly revenue was down 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Monday, June 30th. Nucor's dividend payout ratio is presently 39.15%.

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.