Willingdon Wealth Management Boosts Holdings in Nucor (NUE)

Willingdon Wealth Management raised its position in Nucor (NYSE:NUE) by 22.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,464 shares of the basic materials company’s stock after purchasing an additional 5,485 shares during the quarter. Willingdon Wealth Management’s holdings in Nucor were worth $1,861,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Independence Bank of Kentucky bought a new position in Nucor in the fourth quarter valued at about $100,000. Jacobi Capital Management LLC raised its position in Nucor by 166.7% in the first quarter. Jacobi Capital Management LLC now owns 1,664 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 1,040 shares during the last quarter. Barrett Asset Management LLC bought a new position in Nucor in the fourth quarter valued at about $101,000. Signaturefd LLC bought a new position in Nucor in the first quarter valued at about $106,000. Finally, Cerebellum GP LLC bought a new position in Nucor in the fourth quarter valued at about $131,000. Hedge funds and other institutional investors own 79.50% of the company’s stock.

In related news, Director Victoria F. Haynes sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $60.91, for a total transaction of $109,638.00. Following the completion of the sale, the director now owns 28,773 shares of the company’s stock, valued at $1,752,563.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $65.11, for a total value of $520,880.00. Following the sale, the executive vice president now directly owns 78,381 shares of the company’s stock, valued at approximately $5,103,386.91. The disclosure for this sale can be found here. Insiders have sold 51,837 shares of company stock valued at $3,504,495 in the last ninety days. 0.80% of the stock is currently owned by insiders.

Several equities analysts have commented on NUE shares. Jefferies Group reiterated a “buy” rating and issued a $76.00 target price on shares of Nucor in a research report on Wednesday, January 31st. Zacks Investment Research upgraded Nucor from a “hold” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research report on Wednesday, April 11th. BMO Capital Markets increased their target price on Nucor to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, January 31st. They noted that the move was a valuation call. Goldman Sachs started coverage on Nucor in a research note on Tuesday, March 20th. They issued a “buy” rating and a $78.00 price target for the company. Finally, Morgan Stanley increased their price target on Nucor from $68.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $69.11.

Shares of NUE stock opened at $63.51 on Wednesday. The stock has a market capitalization of $19.96 billion, a PE ratio of 17.39, a P/E/G ratio of 0.89 and a beta of 1.55. The company has a quick ratio of 1.18, a current ratio of 2.49 and a debt-to-equity ratio of 0.35. Nucor has a 1-year low of $63.02 and a 1-year high of $63.69.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Thursday, April 19th. The basic materials company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.07. Nucor had a return on equity of 12.94% and a net margin of 6.33%. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The business’s quarterly revenue was up 15.6% on a year-over-year basis. research analysts predict that Nucor will post 5.86 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 11th. Investors of record on Thursday, March 29th were paid a dividend of $0.38 per share. The ex-dividend date was Wednesday, March 28th. This represents a $1.52 annualized dividend and a yield of 2.39%. Nucor’s dividend payout ratio is currently 43.30%.

About Nucor

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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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