Janney Montgomery Scott LLC Has $17.11 Million Stock Holdings in Nucor Corporation (NYSE:NUE)

Janney Montgomery Scott LLC boosted its position in shares of Nucor Corporation (NYSE:NUE - Free Report) by 10.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 142,194 shares of the basic materials company's stock after buying an additional 13,847 shares during the period. Janney Montgomery Scott LLC owned approximately 0.06% of Nucor worth $17,112,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Columbus Macro LLC boosted its position in shares of Nucor by 16.1% during the 1st quarter. Columbus Macro LLC now owns 33,704 shares of the basic materials company's stock worth $4,056,000 after acquiring an additional 4,673 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in Nucor during the first quarter worth $233,000. Dover Advisors LLC acquired a new stake in shares of Nucor in the 1st quarter valued at $440,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Nucor by 21.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company's stock valued at $12,210,000 after purchasing an additional 17,861 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV acquired a new position in shares of Nucor during the 1st quarter worth $2,881,000. 76.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NUE has been the subject of several recent analyst reports. Morgan Stanley set a $164.00 price objective on Nucor in a research report on Monday, March 24th. The Goldman Sachs Group decreased their target price on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Argus set a $155.00 target price on shares of Nucor in a report on Wednesday, March 5th. UBS Group reduced their price target on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Finally, BMO Capital Markets upgraded shares of 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 report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Nucor presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.22.

Nucor Trading Up 3.3%

NYSE NUE traded up $4.01 during trading hours on Thursday, reaching $126.21. The company's stock had a trading volume of 4,038,530 shares, compared to its average volume of 2,221,339. The firm has a fifty day simple moving average of $115.72 and a 200-day simple moving average of $123.15. 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 52 week low of $97.59 and a 52 week high of $170.52. The stock has a market cap of $29.12 billion, a P/E ratio of 22.46, a P/E/G ratio of 0.77 and a beta of 1.67.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the previous year, the business posted $3.46 EPS. Nucor's revenue was down 3.8% on a year-over-year basis. Equities analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.74%. The ex-dividend date is Monday, June 30th. Nucor's payout ratio is presently 39.15%.

Insider Buying and Selling at Nucor

In other Nucor 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 transaction of $4,115,065.22. Following the completion of the transaction, the chief executive officer now owns 162,993 shares in the company, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.46% of the company's stock.

About Nucor

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.