James Investment Research Inc. Sells 618 Shares of Nucor Corporation (NYSE:NUE)

James Investment Research Inc. trimmed its holdings in Nucor Corporation (NYSE:NUE) by 6.8% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 8,451 shares of the basic materials company’s stock after selling 618 shares during the quarter. James Investment Research Inc.’s holdings in Nucor were worth $1,017,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in Nucor by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company’s stock worth $701,255,000 after purchasing an additional 105,309 shares during the last quarter. Norges Bank purchased a new position in Nucor in the fourth quarter worth about $398,077,000. Invesco Ltd. boosted its position in Nucor by 18.7% in the fourth quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock worth $284,220,000 after purchasing an additional 384,205 shares during the last quarter. First Trust Advisors LP boosted its position in Nucor by 24.6% in the fourth quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company’s stock worth $280,627,000 after purchasing an additional 474,274 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Nucor by 7.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,384,590 shares of the basic materials company’s stock valued at $161,595,000 after buying an additional 96,375 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Price Performance

Nucor stock opened at $138.65 on Wednesday. The company has a market cap of $31.99 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 0.91 and a beta of 1.70. The firm’s fifty day moving average is $123.55 and its 200 day moving average is $123.63. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.32. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (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 analysts’ expectations of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. Nucor’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.46 EPS. Sell-side analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, June 30th. Nucor’s dividend payout ratio is currently 39.15%.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a report on Monday. UBS Group lowered their price target on shares of Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. 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 report on Monday, April 7th. Finally, Morgan Stanley boosted their target price on shares of Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $152.75.

Insider Activity

In other news, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $130.37, for a total value of $1,303,700.00. Following the sale, the executive vice president owned 94,080 shares of the company’s stock, valued at approximately $12,265,209.60. This represents a 9.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Daniel R. Needham sold 7,088 shares of the company’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total transaction of $906,342.56. Following the completion of the transaction, the executive vice president owned 99,379 shares in the company, valued at approximately $12,707,592.73. The trade was a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,326 shares of company stock valued at $6,325,108. 0.71% of the stock is currently owned by company insiders.

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.