Wayfinding Financial LLC bought a new stake in Nucor Corporation (NYSE:NUE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,835 shares of the basic materials company's stock, valued at approximately $220,000.
Several other hedge funds have also recently made changes to their positions in NUE. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Nucor in the fourth quarter valued at $25,000. Putney Financial Group LLC purchased a new position in Nucor during the fourth quarter worth about $29,000. MV Capital Management Inc. grew its position in Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after buying an additional 119 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in Nucor during the fourth quarter worth about $41,000. Finally, Spirit of America Management Corp NY purchased a new position in Nucor during the first quarter worth about $48,000. 76.48% of the stock is currently owned by institutional investors.
Nucor Trading Down 0.3%
Shares of NYSE NUE traded down $0.35 during midday trading on Friday, reaching $138.51. The company had a trading volume of 1,029,087 shares, compared to its average volume of 2,242,454. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. 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 firm's fifty day moving average price is $120.58 and its 200-day moving average price is $122.54. The stock has a market cap of $31.96 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 0.88 and a beta of 1.70.
Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The business had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. The company's revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.46 EPS. On average, equities research analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current year.
Nucor Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders 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 yield of 1.59%. The ex-dividend date is Monday, June 30th. Nucor's payout ratio is 39.15%.
Analysts Set New Price Targets
Several research firms recently commented on NUE. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $140.00 to $145.00 in a research report on Monday, June 2nd. JPMorgan Chase & Co. reduced their target price on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group reduced their target price on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Monday, April 7th. UBS Group reduced their target price on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Finally, Morgan Stanley boosted their target price on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $150.00.
View Our Latest Research Report on NUE
Insider Buying and Selling at Nucor
In other Nucor news, EVP Daniel R. Needham sold 7,088 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total transaction of $906,342.56. Following the transaction, the executive vice president owned 99,379 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $130.37, for a total value of $1,303,700.00. Following the transaction, the executive vice president owned 94,080 shares in the company, valued at $12,265,209.60. This trade represents a 9.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,326 shares of company stock valued at $6,325,108 in the last 90 days. Insiders own 0.71% of the company's stock.
Nucor Company Profile
(
Free Report)
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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