Nucor Corporation (NYSE:NUE) Shares Bought by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC grew its position in Nucor Corporation (NYSE:NUE - Free Report) by 22.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,031 shares of the basic materials company's stock after acquiring an additional 2,016 shares during the quarter. Premier Path Wealth Partners LLC's holdings in Nucor were worth $1,327,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Nucor during the 4th quarter worth $398,077,000. GAMMA Investing LLC raised its holdings in Nucor by 17,785.0% in the 1st quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company's stock valued at $60,867,000 after acquiring an additional 502,961 shares during the last quarter. First Trust Advisors LP raised its holdings in Nucor by 24.6% in the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock valued at $280,627,000 after acquiring an additional 474,274 shares during the last quarter. Voya Investment Management LLC lifted its stake in Nucor by 528.6% in 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. Finally, Invesco Ltd. boosted its holdings in shares of Nucor by 18.7% during the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock worth $284,220,000 after purchasing an additional 384,205 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total value of $4,115,065.22. Following the sale, the chief executive officer now directly owns 162,993 shares in the company, valued at $19,590,128.67. This trade represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NUE has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective 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 price target for the stock from $140.00 to $145.00 in a report on Monday, June 2nd. The Goldman Sachs Group lowered their price target on shares of Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Morgan Stanley set a $164.00 target price on shares of Nucor in a report on Monday, March 24th. Finally, UBS Group decreased their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Nucor presently has a consensus rating of "Moderate Buy" and an average price target of $157.22.

Nucor Stock Down 0.5%

Shares of NUE stock traded down $0.67 during trading on Friday, reaching $125.52. The company's stock had a trading volume of 946,028 shares, compared to its average volume of 2,216,382. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.52 and a quick ratio of 1.48. The company has a market capitalization of $28.96 billion, a price-to-earnings ratio of 22.32, a P/E/G ratio of 0.80 and a beta of 1.67. The stock's 50-day moving average price is $116.05 and its 200 day moving average price is $122.94. 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 posted its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS 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 business had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same quarter last year, the firm earned $3.46 EPS. The business's revenue was down 3.8% on a year-over-year basis. On average, research analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The business 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 dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend 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.