Williams Jones & Associates LLC trimmed its holdings in Nucor Co. (NYSE:NUE) by 16.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,450 shares of the basic materials company’s stock after selling 4,836 shares during the period. Williams Jones & Associates LLC’s holdings in Nucor were worth $1,427,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. HL Financial Services LLC boosted its stake in Nucor by 1.4% during the fourth quarter. HL Financial Services LLC now owns 12,938 shares of the basic materials company’s stock worth $670,000 after buying an additional 175 shares during the period. Synovus Financial Corp boosted its stake in Nucor by 4.6% during the fourth quarter. Synovus Financial Corp now owns 4,235 shares of the basic materials company’s stock worth $219,000 after buying an additional 186 shares during the period. Berman Capital Advisors LLC boosted its stake in Nucor by 37.9% during the first quarter. Berman Capital Advisors LLC now owns 677 shares of the basic materials company’s stock worth $39,000 after buying an additional 186 shares during the period. CWM LLC boosted its stake in Nucor by 26.8% during the first quarter. CWM LLC now owns 922 shares of the basic materials company’s stock worth $54,000 after buying an additional 195 shares during the period. Finally, Wealthfront Advisers LLC boosted its stake in Nucor by 4.4% during the first quarter. Wealthfront Advisers LLC now owns 5,451 shares of the basic materials company’s stock worth $318,000 after buying an additional 230 shares during the period. Institutional investors and hedge funds own 76.54% of the company’s stock.
Nucor stock traded down $0.58 during trading on Wednesday, reaching $51.16. The stock had a trading volume of 64,630 shares, compared to its average volume of 2,480,863. Nucor Co. has a 52-week low of $47.13 and a 52-week high of $68.84. The company has a quick ratio of 1.64, a current ratio of 3.37 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $15.50 billion, a P/E ratio of 6.72, a P/E/G ratio of 0.78 and a beta of 1.53.
Nucor (NYSE:NUE) last issued its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $6.05 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, research analysts anticipate that Nucor Co. will post 5.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be paid a $0.40 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a yield of 3.13%. Nucor’s dividend payout ratio is currently 21.00%.
In other Nucor news, Chairman John J. Ferriola sold 65,061 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $56.20, for a total transaction of $3,656,428.20. Following the sale, the chairman now owns 403,735 shares of the company’s stock, valued at $22,689,907. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $58.28, for a total transaction of $582,800.00. Following the sale, the insider now directly owns 96,778 shares in the company, valued at approximately $5,640,221.84. The disclosure for this sale can be found here. Insiders sold 76,314 shares of company stock valued at $4,310,637 in the last quarter. 0.96% of the stock is owned by insiders.
Several research analysts have weighed in on NUE shares. Deutsche Bank lowered shares of Nucor from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. Citigroup set a $60.00 target price on shares of Nucor and gave the stock a “buy” rating in a research note on Tuesday. Bank of America lowered shares of Nucor from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $68.00 to $50.00 in a research note on Friday, May 31st. Goldman Sachs Group lowered their price objective on shares of Nucor from $70.00 to $59.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Finally, KeyCorp lowered their price objective on shares of Nucor from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, May 22nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $65.30.
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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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