Carlton Hofferkamp & Jenks Wealth Management LLC trimmed its position in Nucor Co. (NYSE:NUE) by 9.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,620 shares of the basic materials company’s stock after selling 984 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Nucor were worth $483,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in NUE. First Trust Advisors LP raised its holdings in shares of Nucor by 173.1% in the 1st quarter. First Trust Advisors LP now owns 1,084,759 shares of the basic materials company’s stock valued at $63,296,000 after purchasing an additional 687,564 shares in the last quarter. Burney Co. raised its stake in Nucor by 38.6% during the 1st quarter. Burney Co. now owns 26,080 shares of the basic materials company’s stock worth $1,522,000 after acquiring an additional 7,258 shares in the last quarter. Northeast Financial Consultants Inc acquired a new stake in Nucor during the 1st quarter worth $587,000. GYL Financial Synergies LLC acquired a new stake in Nucor during the 1st quarter worth $937,000. Finally, SRB Corp raised its stake in Nucor by 31.1% during the 1st quarter. SRB Corp now owns 11,908 shares of the basic materials company’s stock worth $694,000 after acquiring an additional 2,827 shares in the last quarter. Institutional investors and hedge funds own 77.35% of the company’s stock.
Several equities research analysts recently commented on NUE shares. Credit Suisse Group set a $61.00 price target on shares of Nucor and gave the stock a “buy” rating in a research note on Friday, July 19th. KeyCorp cut their price target on shares of Nucor from $61.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. ValuEngine upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Bank of America cut their price target on shares of Nucor from $50.00 to $46.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $61.33.
Nucor (NYSE:NUE) last posted its quarterly earnings data on Thursday, July 18th. The basic materials company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6 billion. Nucor had a net margin of 8.84% and a return on equity of 21.65%. Nucor’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.07 earnings per share. As a group, sell-side analysts forecast that Nucor Co. will post 4.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a $0.40 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.60 dividend on an annualized basis and a yield of 3.05%. Nucor’s dividend payout ratio is presently 21.00%.
In other Nucor news, insider Ladd R. Hall sold 28,998 shares of Nucor stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $56.90, for a total value of $1,649,986.20. Following the transaction, the insider now directly owns 292,776 shares in the company, valued at $16,658,954.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Leon J. Topalian sold 5,798 shares of Nucor stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $56.47, for a total transaction of $327,413.06. Following the completion of the transaction, the executive vice president now owns 93,559 shares in the company, valued at $5,283,276.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,203 shares of company stock worth $3,465,601. 0.96% of the stock is currently owned by company insiders.
Nucor Company Profile
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.
Featured Story: Investing in Growth Stocks
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUE).
Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.