Nucor Corporation (NYSE:NUE) Shares Sold by Arjuna Capital

Arjuna Capital reduced its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 55.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,993 shares of the basic materials company's stock after selling 13,779 shares during the period. Arjuna Capital's holdings in Nucor were worth $1,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NUE. Norges Bank purchased a new position in shares of Nucor in the fourth quarter worth about $398,077,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Nucor in the first quarter worth about $194,804,000. Vanguard Group Inc. lifted its stake in shares of Nucor by 2.6% in the first quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company's stock worth $3,484,965,000 after buying an additional 745,671 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Nucor by 17,785.0% in the first quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company's stock worth $60,867,000 after buying an additional 502,961 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Nucor by 24.6% during the fourth quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock worth $280,627,000 after purchasing an additional 474,274 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Trading Down 0.6%

Shares of NUE traded down $0.88 during trading on Friday, reaching $142.43. 1,242,965 shares of the company traded hands, compared to its average volume of 2,245,837. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. The stock has a market cap of $32.87 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 0.92 and a beta of 1.70. The stock has a 50-day simple moving average of $122.69 and a 200-day simple moving average of $123.32. 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 announced its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The company had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. Nucor's revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.46 earnings per share. On average, analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The firm 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 $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Monday, June 30th. Nucor's dividend payout ratio (DPR) is currently 39.15%.

Insider Activity at Nucor

In related news, EVP Kenneth Rex Query sold 10,000 shares of Nucor stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $130.37, for a total value of $1,303,700.00. Following the completion of the transaction, the executive vice president owned 94,080 shares in the company, valued at approximately $12,265,209.60. The trade was a 9.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel R. Needham sold 7,088 shares of Nucor stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total transaction of $906,342.56. Following the completion of the transaction, the executive vice president owned 99,379 shares of the company's stock, valued at $12,707,592.73. This trade represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,326 shares of company stock worth $6,325,108. Corporate insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of analyst reports. The Goldman Sachs Group reduced their target price on shares of Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Morgan Stanley lifted their target price on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. reduced 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. Wall Street Zen downgraded shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Finally, BMO Capital Markets raised shares of 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 research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $150.00.

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.