Nucor Corporation (NYSE:NUE) Stock Position Increased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. boosted its position in Nucor Corporation (NYSE:NUE) by 118.4% during the 1st quarter, HoldingsChannel reports. The firm owned 2,020 shares of the basic materials company’s stock after buying an additional 1,095 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Nucor were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in Nucor by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company’s stock valued at $701,255,000 after buying an additional 105,309 shares during the period. Norges Bank purchased a new position in shares of Nucor in the fourth quarter worth approximately $398,077,000. Invesco Ltd. increased its position in shares of 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 acquiring an additional 384,205 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Nucor by 24.6% during 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 period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Nucor by 7.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,384,590 shares of the basic materials company’s stock worth $161,595,000 after purchasing an additional 96,375 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on NUE shares. UBS Group decreased their price target on shares of Nucor from $153.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 29th. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $156.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. BMO Capital Markets raised shares of Nucor from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $140.00 to $145.00 in a research report on Monday, June 2nd. Morgan Stanley boosted their price target on shares of Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, June 20th. Finally, Wall Street Zen downgraded shares of Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.00.

Nucor Stock Performance

Nucor stock opened at $142.43 on Monday. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $170.52. The company has a market cap of $32.87 billion, a PE ratio of 25.34, a PEG ratio of 0.92 and a beta of 1.70. The company’s 50-day moving average is $122.69 and its two-hundred day moving average is $123.35.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The company had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same period last year, the company earned $3.46 earnings per share. Equities analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.54%. Nucor’s dividend payout ratio (DPR) is presently 39.15%.

Insider Buying and Selling

In other news, EVP Kenneth Rex Query sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 94,080 shares of the company’s stock, valued at $12,265,209.60. This trade represents a 9.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the completion of the sale, the chief executive officer directly owned 162,993 shares of the company’s stock, valued at approximately $19,590,128.67. The trade was a 17.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 51,326 shares of company stock valued at $6,325,108. 0.46% of the stock is owned by corporate insiders.

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.