Xponance Inc. Purchases 2,658 Shares of Nucor Corporation (NYSE:NUE)

Xponance Inc. increased its position in Nucor Corporation (NYSE:NUE - Free Report) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,925 shares of the basic materials company's stock after purchasing an additional 2,658 shares during the period. Xponance Inc.'s holdings in Nucor were worth $6,249,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NUE. Marshall & Sterling Wealth Advisors Inc. bought a new position in Nucor during the 4th quarter valued at about $25,000. Putney Financial Group LLC bought a new position in Nucor during the 4th quarter valued at about $29,000. MV Capital Management Inc. lifted its stake in Nucor by 73.5% during the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 119 shares during the period. Fourth Dimension Wealth LLC bought a new position in Nucor during the 4th quarter valued at about $41,000. Finally, Park Square Financial Group LLC bought a new position in Nucor during the 4th quarter valued at about $48,000. Institutional investors own 76.48% of the company's stock.

Nucor Price Performance

NYSE NUE opened at $142.43 on Friday. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52. The stock has a market cap of $32.87 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 0.92 and a beta of 1.70. The company's 50 day moving average is $122.69 and its two-hundred day moving average is $123.32. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32.

Nucor (NYSE:NUE - Get Free Report) last released its 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). 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 the consensus estimate of $7.25 billion. During the same quarter in the previous year, the business posted $3.46 EPS. Nucor's revenue was down 3.8% on a year-over-year basis. As a group, research analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Monday, June 30th. Nucor's payout ratio is 39.15%.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the sale, the executive vice president owned 94,080 shares in the company, valued at approximately $12,265,209.60. This trade represents a 9.61% 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, CEO Leon J. Topalian sold 34,238 shares of the firm's 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 in the company, valued at approximately $19,590,128.67. The trade was a 17.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,326 shares of company stock worth $6,325,108. Company insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on NUE. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and upped their target price for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. The Goldman Sachs Group lowered their target price on shares of Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. UBS Group lowered their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. JPMorgan Chase & Co. lowered their price objective on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Wall Street Zen cut shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $150.00.

About Nucor

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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