OneDigital Investment Advisors LLC Buys New Position in Nucor Corporation (NYSE:NUE)

OneDigital Investment Advisors LLC bought a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,482 shares of the basic materials company's stock, valued at approximately $299,000.

Several other hedge funds also recently modified their holdings of NUE. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Nucor during the fourth quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new position in shares of Nucor during the fourth quarter valued at approximately $29,000. MV Capital Management Inc. boosted its position in shares of Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock valued at $34,000 after buying an additional 119 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in Nucor during the fourth quarter worth $41,000. Finally, Park Square Financial Group LLC bought a new stake in Nucor during the fourth quarter worth $48,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on NUE shares. UBS Group dropped 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. JPMorgan Chase & Co. dropped 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. Morgan Stanley lifted 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. Wall Street Zen lowered Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Finally, BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $140.00 to $145.00 in a report on Monday, June 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $150.00.

Insider Activity at Nucor

In related news, EVP Daniel R. Needham sold 7,088 shares of the company's 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 sale, the executive vice president owned 99,379 shares of the company's stock, valued at approximately $12,707,592.73. This represents a 6.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $4,115,065.22. Following the completion of the transaction, the chief executive officer directly owned 162,993 shares of the company's stock, valued at approximately $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,326 shares of company stock valued at $6,325,108. Corporate insiders own 0.46% of the company's stock.

Nucor Stock Performance

Shares of NUE opened at $142.43 on Friday. The firm has a market cap of $32.87 billion, a PE ratio of 25.34, a PEG ratio of 0.92 and a beta of 1.70. The stock's fifty day moving average price is $122.69 and its two-hundred day moving average price is $123.28. 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 1 year low of $97.59 and a 1 year high of $170.52.

Nucor (NYSE:NUE - Get Free Report) last issued its 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 firm had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same quarter in the previous year, the firm earned $3.46 earnings per share. The business's quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts forecast that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

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

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