Nucor Corporation (NYSE:NUE) Stock Position Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in shares of Nucor Corporation (NYSE:NUE - Free Report) by 12.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,006 shares of the basic materials company's stock after purchasing an additional 33,700 shares during the period. Envestnet Asset Management Inc. owned 0.13% of Nucor worth $36,704,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Nucor by 17.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company's stock worth $3,853,000 after purchasing an additional 4,763 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Nucor by 528.6% during the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock worth $59,235,000 after purchasing an additional 426,949 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Nucor by 21.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company's stock worth $12,210,000 after purchasing an additional 17,861 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Nucor by 20.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company's stock worth $3,476,000 after purchasing an additional 4,914 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Nucor by 48.6% in the 1st quarter. GAMMA Investing LLC now owns 4,203 shares of the basic materials company's stock valued at $506,000 after acquiring an additional 1,375 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Performance

Shares of NYSE NUE opened at $142.43 on Monday. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.32. The business's 50 day moving average is $122.69 and its two-hundred day moving average is $123.35. The company has a market cap of $32.87 billion, a P/E ratio of 25.34, a P/E/G ratio of 0.92 and a beta of 1.70. 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 quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a return on equity of 6.82% and a net margin of 4.40%. The firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same period in the previous year, the business posted $3.46 EPS. Nucor's revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders 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 dividend yield of 1.54%. The ex-dividend date is Monday, June 30th. Nucor's payout ratio is presently 39.15%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NUE. The Goldman Sachs Group cut their price objective on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. cut their price objective on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. Wall Street Zen downgraded Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley raised their price objective on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research note 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $150.00.

Insider Transactions at Nucor

In other news, CEO Leon J. Topalian sold 34,238 shares of Nucor 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 sale, the chief executive officer owned 162,993 shares of the company's stock, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the business's stock in a transaction 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 sale, the executive vice president directly owned 94,080 shares in the company, valued at approximately $12,265,209.60. This represents a 9.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,326 shares of company stock valued at $6,325,108. 0.46% of the stock is owned by corporate insiders.

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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