Nucor Co. (NYSE:NUE) Shares Purchased by CX Institutional

CX Institutional grew its holdings in Nucor Co. (NYSE:NUE) by 41.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,334 shares of the basic materials company’s stock after purchasing an additional 5,358 shares during the quarter. CX Institutional’s holdings in Nucor were worth $2,206,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Canal Capital Management LLC increased its position in Nucor by 2.5% during the fourth quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company’s stock worth $359,000 after buying an additional 75 shares during the period. Horrell Capital Management Inc. raised its holdings in shares of Nucor by 0.3% in the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company’s stock valued at $3,111,000 after buying an additional 76 shares during the last quarter. Jessup Wealth Management Inc raised its holdings in shares of Nucor by 0.9% in the fourth quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company’s stock valued at $1,229,000 after buying an additional 93 shares during the last quarter. Beacon Capital Management LLC boosted its stake in shares of Nucor by 29.1% during the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock worth $49,000 after buying an additional 94 shares during the period. Finally, Diligent Investors LLC grew its holdings in shares of Nucor by 4.6% during the first quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company’s stock worth $276,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other news, CEO Leon J. Topalian sold 34,238 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 162,993 shares of the company’s stock, valued at $19,590,128.67. This trade represents a 17.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is owned by corporate insiders.

Nucor Price Performance

Shares of NYSE NUE opened at $117.17 on Thursday. The company has a market capitalization of $27.04 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.96 and a beta of 1.68. The business has a 50 day simple moving average of $114.35 and a 200-day simple moving average of $124.26. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. Nucor Co. has a twelve month low of $97.59 and a twelve month high of $170.52.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). The business had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.46 earnings per share. As a group, equities research analysts expect that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

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 $0.55 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.88%. Nucor’s dividend payout ratio (DPR) is 39.15%.

Analyst Ratings Changes

Several analysts have recently commented on NUE shares. Argus set a $155.00 target price on shares of Nucor in a research note on Wednesday, March 5th. Morgan Stanley set a $164.00 price objective on shares of Nucor in a research report on Monday, March 24th. Wall Street Zen downgraded Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. UBS Group reduced their target price on Nucor from $153.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Finally, The Goldman Sachs Group decreased their price target 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.22.

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.