Willingdon Wealth Management cut its holdings in Nucor Co. (NYSE:NUE) by 27.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,119 shares of the basic materials company’s stock after selling 1,200 shares during the period. Willingdon Wealth Management’s holdings in Nucor were worth $172,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of NUE. First Trust Advisors LP lifted its stake in Nucor by 173.1% in the first quarter. First Trust Advisors LP now owns 1,084,759 shares of the basic materials company’s stock worth $63,296,000 after purchasing an additional 687,564 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Nucor by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock valued at $258,607,000 after acquiring an additional 506,988 shares during the last quarter. FMR LLC raised its stake in shares of Nucor by 123.0% during the first quarter. FMR LLC now owns 674,154 shares of the basic materials company’s stock valued at $39,337,000 after acquiring an additional 371,876 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Nucor by 366.0% during the first quarter. SG Americas Securities LLC now owns 429,342 shares of the basic materials company’s stock valued at $25,052,000 after acquiring an additional 337,214 shares during the last quarter. Finally, Bluestein R H & Co. bought a new position in shares of Nucor during the first quarter valued at about $18,688,000. 75.83% of the stock is owned by institutional investors and hedge funds.
NUE has been the subject of several recent analyst reports. Deutsche Bank downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. ValuEngine downgraded shares of Nucor from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Bank of America downgraded 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, Citigroup set a $60.00 price objective on shares of Nucor and gave the company a “buy” rating in a research note on Tuesday, June 11th. Three analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $62.90.
NUE stock traded up $0.81 during trading on Tuesday, reaching $50.17. The company had a trading volume of 2,241,190 shares, compared to its average volume of 2,071,419. Nucor Co. has a 52 week low of $47.13 and a 52 week high of $66.03. The stock has a market cap of $14.87 billion, a P/E ratio of 6.58, a P/E/G ratio of 0.87 and a beta of 1.61. The business’s 50 day moving average price is $54.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.76 and a current ratio of 3.56.
Nucor (NYSE:NUE) last released its quarterly earnings results on Thursday, July 18th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.01. Nucor had a net margin of 8.84% and a return on equity of 21.65%. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6 billion. During the same period in the prior year, the firm earned $2.07 earnings per share. Nucor’s revenue was down 8.7% on a year-over-year basis. Analysts forecast that Nucor Co. will post 4.89 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, June 28th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Thursday, June 27th. Nucor’s dividend payout ratio (DPR) is presently 21.00%.
In other Nucor news, EVP Leon J. Topalian sold 5,798 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $56.47, for a total value of $327,413.06. Following the sale, the executive vice president now owns 93,559 shares in the company, valued at $5,283,276.73. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ladd R. Hall sold 28,998 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $56.90, for a total transaction of $1,649,986.20. Following the completion of the sale, the insider now owns 292,776 shares in the company, valued at approximately $16,658,954.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,203 shares of company stock worth $3,465,601. Corporate insiders own 0.96% of the company’s stock.
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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