Venture Visionary Partners LLC Takes $233,000 Position in Nucor Corporation $NUE

Key Points

• Venture Visionary Partners LLC has taken a new position in Nucor Corporation, acquiring 1,937 shares valued at approximately $233,000 during the first quarter of the year.
• Several institutional investors, including Vanguard Group Inc. and Charles Schwab Investment Management Inc., have recently increased their holdings in Nucor, contributing to a total institutional ownership of 76.48%.
• Nucor recently reported a quarterly earnings per share of $2.60, exceeding analysts' expectations, along with a quarterly dividend of $0.55 per share, reflecting a 1.5% yield.

Venture Visionary Partners LLC acquired a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,937 shares of the basic materials company's stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Nucor by 2.6% during the first quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company's stock valued at $3,484,965,000 after buying an additional 745,671 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Nucor by 5.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,772,831 shares of the basic materials company's stock valued at $213,342,000 after buying an additional 92,363 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of Nucor during the first quarter valued at approximately $194,804,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Nucor by 7.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,384,590 shares of the basic materials company's stock valued at $161,595,000 after buying an additional 96,375 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Nucor by 15.8% during the fourth quarter. ProShare Advisors LLC now owns 1,370,077 shares of the basic materials company's stock valued at $159,902,000 after buying an additional 186,663 shares during the last quarter. Institutional investors own 76.48% of the company's stock.

Analyst Ratings Changes

NUE has been the topic of several recent analyst reports. UBS Group reduced their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Jefferies Financial Group upgraded shares of Nucor from a "hold" rating to a "buy" rating and boosted their price target for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $140.00 to $145.00 in a research report on Monday, June 2nd. JPMorgan Chase & Co. boosted their price target on shares of Nucor from $143.00 to $162.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, Wall Street Zen cut shares of Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $155.78.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 7,200 shares of Nucor stock in a transaction on Monday, August 18th. The shares were sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the completion of the transaction, the executive vice president directly owned 92,179 shares of the company's stock, valued at $13,458,134. The trade was a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allen C. Behr sold 8,021 shares of Nucor stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the transaction, the executive vice president directly owned 82,703 shares of the company's stock, valued at $11,857,956.14. The trade was a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,309 shares of company stock valued at $5,860,294 over the last three months. 0.46% of the stock is owned by company insiders.

Nucor Trading Down 0.1%

Shares of NUE opened at $143.3240 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. The company's fifty day moving average is $137.66 and its 200 day moving average is $127.34. The stock has a market capitalization of $32.90 billion, a PE ratio of 25.87, a P/E/G ratio of 0.91 and a beta of 1.74. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.54 by $0.06. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. Nucor's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.68 earnings per share. Sell-side analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, June 30th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 30th. Nucor's payout ratio is presently 39.71%.

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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