Manchester Capital Management LLC Acquires 170 Shares of Nucor Corporation (NYSE:NUE)

Manchester Capital Management LLC raised its holdings in Nucor Corporation (NYSE:NUE) by 4.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 4,350 shares of the basic materials company’s stock after acquiring an additional 170 shares during the quarter. Manchester Capital Management LLC’s holdings in Nucor were worth $523,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Nucor by 0.6% during the fourth quarter. Wellington Management Group LLP now owns 251,364 shares of the basic materials company’s stock worth $29,337,000 after acquiring an additional 1,380 shares in the last quarter. World Investment Advisors raised its stake in shares of Nucor by 4.1% during the 4th quarter. World Investment Advisors now owns 14,014 shares of the basic materials company’s stock worth $1,636,000 after purchasing an additional 548 shares in the last quarter. Smith Moore & CO. boosted its holdings in shares of Nucor by 29.1% in the 4th quarter. Smith Moore & CO. now owns 1,845 shares of the basic materials company’s stock valued at $215,000 after buying an additional 416 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Nucor in the fourth quarter valued at $10,213,000. Finally, Aviva PLC increased its holdings in Nucor by 164.9% during the fourth quarter. Aviva PLC now owns 143,060 shares of the basic materials company’s stock worth $16,697,000 after buying an additional 89,059 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Insider Activity

In other Nucor news, EVP Daniel R. Needham sold 7,088 shares of Nucor stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total value of $906,342.56. Following the completion of the sale, the executive vice president owned 99,379 shares in the company, valued at $12,707,592.73. The trade was a 6.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 94,080 shares of the company’s stock, valued at $12,265,209.60. This represents a 9.61% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

Nucor Trading Down 3.1%

Shares of NYSE:NUE opened at $138.67 on Monday. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The business has a 50 day moving average of $130.63 and a 200-day moving average of $125.76. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The stock has a market cap of $32.00 billion, a PE ratio of 25.03, a P/E/G ratio of 0.88 and a beta of 1.74.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same period in the previous year, the company posted $2.68 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be paid a $0.55 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. Nucor’s dividend payout ratio is 39.71%.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of recent analyst reports. BMO Capital Markets upgraded shares of Nucor from a “market perform” rating to an “outperform” rating and increased their price target for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. Morgan Stanley raised their target price on shares of Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and boosted their price target for the stock from $135.00 to $170.00 in a research report on Thursday. Wall Street Zen lowered Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group reduced their target price on Nucor from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.13.

Nucor Company 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.