GWM Advisors LLC decreased its stake in Nucor Co. (NYSE:NUE) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,845 shares of the basic materials company’s stock after selling 199 shares during the period. GWM Advisors LLC’s holdings in Nucor were worth $1,100,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of NUE. Pinnacle Bank acquired a new position in shares of Nucor in the fourth quarter worth about $26,000. Lindbrook Capital LLC acquired a new position in shares of Nucor in the fourth quarter worth about $27,000. Ropes Wealth Advisors LLC acquired a new position in shares of Nucor in the first quarter worth about $34,000. Laurel Wealth Advisors LLC acquired a new position in shares of Nucor in the fourth quarter worth about $38,000. Finally, Capital Investment Advisory Services LLC acquired a new position in shares of Nucor in the fourth quarter worth about $39,000. 76.54% of the stock is owned by institutional investors.
In other Nucor news, EVP Leon J. Topalian sold 1,253 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $56.99, for a total transaction of $71,408.47. Following the completion of the transaction, the executive vice president now owns 46,593 shares in the company, valued at $2,655,335.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman John J. Ferriola sold 65,061 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $56.20, for a total transaction of $3,656,428.20. Following the transaction, the chairman now owns 403,735 shares of the company’s stock, valued at approximately $22,689,907. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,314 shares of company stock worth $4,310,637. 0.96% of the stock is currently owned by company insiders.
Nucor (NYSE:NUE) last posted its earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.05. The firm had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $6.05 billion. Nucor had a net margin of 9.80% and a return on equity of 24.86%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 earnings per share. Analysts anticipate that Nucor Co. will post 5.37 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, June 27th. Nucor’s dividend payout ratio is currently 21.00%.
NUE has been the topic of several research reports. ValuEngine cut Nucor from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. Standpoint Research upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Longbow Research cut Nucor from a “buy” rating to a “neutral” rating in a research note on Monday, March 11th. UBS Group set a $59.00 price objective on Nucor and gave the company a “hold” rating in a research note on Wednesday, May 8th. Finally, KeyCorp cut their price objective on Nucor from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $65.30.
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Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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