Posted by admin on Jun 27th, 2022
Capital Investment Advisors LLC cut its holdings in shares of Nucor Co. (NYSE:NUE – Get Rating) by 9.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,308 shares of the basic materials company’s stock after selling 239 shares during the period. Capital Investment Advisors LLC’s holdings in Nucor were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cantor Fitzgerald Investment Advisor L.P lifted its position in Nucor by 79.7% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 139,078 shares of the basic materials company’s stock valued at $20,674,000 after purchasing an additional 61,701 shares during the period. Calton & Associates Inc. raised its position in shares of Nucor by 191.5% in the first quarter. Calton & Associates Inc. now owns 5,929 shares of the basic materials company’s stock worth $881,000 after acquiring an additional 3,895 shares during the period. Edmonds Duncan Registered Investment Advisors LLC acquired a new position in shares of Nucor in the first quarter worth about $317,000. CAPROCK Group Inc. acquired a new position in shares of Nucor in the first quarter worth about $231,000. Finally, NuWave Investment Management LLC raised its position in shares of Nucor by 598.4% in the first quarter. NuWave Investment Management LLC now owns 3,471 shares of the basic materials company’s stock worth $516,000 after acquiring an additional 2,974 shares during the period. Institutional investors own 77.70% of the company’s stock.
In related news, EVP Daniel R. Needham sold 4,000 shares of the company’s stock in a transaction dated Tuesday, April 26th. The shares were sold at an average price of $160.00, for a total transaction of $640,000.00. Following the completion of the sale, the executive vice president now owns 46,994 shares of the company’s stock, valued at approximately $7,519,040. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Leon J. Topalian sold 48,768 shares of the stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $112.61, for a total transaction of $5,491,764.48. Following the completion of the sale, the chief executive officer now directly owns 135,809 shares of the company’s stock, valued at approximately $15,293,451.49. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by corporate insiders.
NUE stock opened at $111.06 on Monday. Nucor Co. has a 52 week low of $87.71 and a 52 week high of $187.90. The stock has a market capitalization of $29.55 billion, a P/E ratio of 3.97 and a beta of 1.23. The company has a quick ratio of 1.66, a current ratio of 2.88 and a debt-to-equity ratio of 0.38. The firm has a 50-day simple moving average of $133.58 and a 200-day simple moving average of $128.05.
Nucor (NYSE:NUE – Get Rating) last announced its quarterly earnings data on Thursday, April 21st. The basic materials company reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.35 by $0.32. Nucor had a net margin of 19.97% and a return on equity of 55.61%. The company had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.72 billion. During the same quarter in the prior year, the company earned $3.10 EPS. Nucor’s revenue was up 49.5% compared to the same quarter last year. On average, analysts expect that Nucor Co. will post 29.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Thursday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $2.00 annualized dividend and a yield of 1.80%. Nucor’s dividend payout ratio is presently 7.15%.
A number of brokerages have weighed in on NUE. JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $146.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, June 14th. Credit Suisse Group upped their price objective on shares of Nucor from $142.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, April 22nd. BMO Capital Markets decreased their price objective on shares of Nucor from $168.00 to $128.00 in a research report on Tuesday, May 17th. UBS Group set a $120.00 price objective on shares of Nucor in a research report on Monday, June 20th. Finally, Argus boosted their target price on shares of Nucor from $140.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Nucor currently has a consensus rating of “Hold” and an average target price of $132.55.
Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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