35,239 Shares in Nucor Co. (NUE) Purchased by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC bought a new position in shares of Nucor Co. (NYSE:NUE) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 35,239 shares of the basic materials company’s stock, valued at approximately $2,056,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Pinnacle Bank acquired a new stake in Nucor in the 4th quarter valued at about $26,000. Lindbrook Capital LLC acquired a new stake in Nucor in the 4th quarter valued at about $27,000. Ropes Wealth Advisors LLC acquired a new stake in Nucor in the 1st quarter valued at about $34,000. Laurel Wealth Advisors LLC acquired a new stake in Nucor in the 4th quarter valued at about $38,000. Finally, Capital Investment Advisory Services LLC acquired a new stake in Nucor in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

NUE has been the subject of several recent analyst reports. Credit Suisse Group upgraded shares of Nucor from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 8th. Cowen initiated coverage on shares of Nucor in a report on Tuesday, January 8th. They issued an “outperform” rating and a $62.00 price target on the stock. Zacks Investment Research cut shares of Nucor from a “hold” rating to a “strong sell” rating in a report on Friday, February 1st. ValuEngine raised shares of Nucor from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Longbow Research cut shares of Nucor from a “buy” rating to a “neutral” rating in a report on Monday, March 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $70.56.

Shares of NUE traded up $1.20 during mid-day trading on Friday, hitting $57.10. 20,183 shares of the company’s stock were exchanged, compared to its average volume of 2,464,174. Nucor Co. has a 52 week low of $49.79 and a 52 week high of $68.84. The stock has a market capitalization of $17.39 billion, a PE ratio of 7.50, a P/E/G ratio of 0.83 and a beta of 1.46. The company has a current ratio of 3.37, a quick ratio of 1.64 and a debt-to-equity ratio of 0.40.

Nucor (NYSE:NUE) last announced its earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.05. Nucor had a net margin of 9.80% and a return on equity of 24.86%. The company had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $6.05 billion. During the same period last year, the firm earned $1.17 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts predict that Nucor Co. will post 5.75 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.60 annualized dividend and a dividend yield of 2.80%. Nucor’s dividend payout ratio is presently 21.00%.

In other news, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $58.28, for a total transaction of $582,800.00. Following the transaction, the insider now directly owns 96,778 shares of the company’s stock, valued at $5,640,221.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman John J. Ferriola sold 65,061 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $56.20, for a total transaction of $3,656,428.20. Following the transaction, the chairman now directly owns 403,735 shares in the company, valued at $22,689,907. The disclosure for this sale can be found here. Insiders have sold 76,314 shares of company stock worth $4,310,637 over the last ninety days. Insiders own 0.96% of the company’s stock.

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Nucor Company Profile

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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