Capital Investment Advisors LLC Increases Holdings in Nucor Co. (NYSE:NUE)

Capital Investment Advisors LLC lifted its position in shares of Nucor Co. (NYSE:NUEGet Rating) by 95.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 4,522 shares of the basic materials company’s stock after buying an additional 2,214 shares during the period. Capital Investment Advisors LLC’s holdings in Nucor were worth $472,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Rosenberg Matthew Hamilton boosted its stake in shares of Nucor by 2.8% during the 1st quarter. Rosenberg Matthew Hamilton now owns 2,276 shares of the basic materials company’s stock worth $338,000 after acquiring an additional 63 shares in the last quarter. Grove Bank & Trust boosted its stake in shares of Nucor by 1.2% during the 1st quarter. Grove Bank & Trust now owns 5,641 shares of the basic materials company’s stock worth $839,000 after acquiring an additional 65 shares in the last quarter. Mayflower Financial Advisors LLC lifted its stake in Nucor by 3.0% in the 1st quarter. Mayflower Financial Advisors LLC now owns 2,223 shares of the basic materials company’s stock valued at $330,000 after buying an additional 65 shares in the last quarter. Advisor Partners LLC lifted its stake in Nucor by 0.7% in the 1st quarter. Advisor Partners LLC now owns 11,380 shares of the basic materials company’s stock valued at $1,692,000 after buying an additional 78 shares in the last quarter. Finally, Woodard & Co. Asset Management Group Inc. ADV lifted its stake in Nucor by 3.5% in the 1st quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 2,385 shares of the basic materials company’s stock valued at $355,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 79.07% of the company’s stock.

Insider Transactions at Nucor

In other news, EVP Kenneth Rex Query sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $141.64, for a total transaction of $708,200.00. Following the completion of the sale, the executive vice president now directly owns 76,100 shares in the company, valued at approximately $10,778,804. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Kenneth Rex Query sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $141.64, for a total transaction of $708,200.00. Following the completion of the sale, the executive vice president now directly owns 76,100 shares in the company, valued at approximately $10,778,804. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Allen C. Behr sold 3,407 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $122.17, for a total value of $416,233.19. Following the sale, the executive vice president now owns 64,087 shares of the company’s stock, valued at $7,829,508.79. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NUE. JPMorgan Chase & Co. reduced their target price on Nucor from $146.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 14th. Citigroup upped their target price on Nucor to $145.00 in a research note on Tuesday, September 13th. Morgan Stanley reduced their target price on Nucor from $121.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, July 25th. Credit Suisse Group reduced their target price on Nucor from $165.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $132.78.

Nucor Trading Down 0.2 %

Shares of Nucor stock opened at $117.08 on Friday. Nucor Co. has a fifty-two week low of $88.50 and a fifty-two week high of $187.90. The firm has a market cap of $30.65 billion, a PE ratio of 3.59 and a beta of 1.39. The business’s fifty day moving average is $130.80 and its two-hundred day moving average is $133.42. The company has a quick ratio of 1.39, a current ratio of 2.62 and a debt-to-equity ratio of 0.37.

Nucor (NYSE:NUEGet Rating) last released its quarterly earnings data on Thursday, July 21st. The basic materials company reported $9.67 EPS for the quarter, topping analysts’ consensus estimates of $8.91 by $0.76. The business had revenue of $11.79 billion during the quarter, compared to the consensus estimate of $11.59 billion. Nucor had a return on equity of 57.78% and a net margin of 21.03%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the prior year, the firm posted $5.04 EPS. Analysts anticipate that Nucor Co. will post 31.01 earnings per share for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.71%. Nucor’s payout ratio is 6.14%.

About Nucor

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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