Ameriflex Group Inc. Has $39,000 Stock Position in Nucor Corporation $NUE

Ameriflex Group Inc. lessened its holdings in Nucor Corporation (NYSE:NUE) by 53.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300 shares of the basic materials company’s stock after selling 340 shares during the period. Ameriflex Group Inc.’s holdings in Nucor were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NUE. Diamond Hill Capital Management Inc. bought a new position in shares of Nucor in the first quarter valued at approximately $194,804,000. Nuveen LLC bought a new position in Nucor during the 1st quarter valued at $141,216,000. Vanguard Group Inc. boosted its holdings in Nucor by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock worth $3,484,965,000 after acquiring an additional 745,671 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Nucor by 18.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock worth $277,920,000 after acquiring an additional 355,364 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Nucor by 301.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 408,685 shares of the basic materials company’s stock valued at $49,181,000 after purchasing an additional 306,867 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In related news, EVP Kenneth Rex Query sold 10,000 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $144.90, for a total transaction of $1,449,000.00. Following the sale, the executive vice president directly owned 84,080 shares in the company, valued at approximately $12,183,192. The trade was a 10.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel R. Needham sold 7,200 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $146.00, for a total value of $1,051,200.00. Following the sale, the executive vice president directly owned 92,179 shares in the company, valued at $13,458,134. This trade represents a 7.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,309 shares of company stock worth $4,553,771. 0.46% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NUE shares. Jefferies Financial Group raised shares of Nucor from a “hold” rating to a “buy” rating and upped their price objective for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. The Goldman Sachs Group decreased their price target on Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. Wells Fargo & Company cut their price objective on Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 18th. JPMorgan Chase & Co. raised their target price on Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research note on Saturday, September 27th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.60.

Nucor Stock Down 0.7%

NUE stock opened at $137.98 on Monday. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52. The stock has a fifty day moving average of $141.84 and a 200-day moving average of $128.99. The company has a market capitalization of $31.67 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 0.95 and a beta of 1.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83.

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

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, September 30th. Nucor’s payout ratio is currently 39.71%.

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.