Burney Co. grew its position in shares of Nucor Co. (NYSE:NUE) by 38.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,080 shares of the basic materials company’s stock after purchasing an additional 7,258 shares during the quarter. Burney Co.’s holdings in Nucor were worth $1,522,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. U S Global Investors Inc. purchased a new stake in shares of Nucor during the first quarter worth $729,000. Insight 2811 Inc. purchased a new stake in shares of Nucor during the first quarter worth $302,000. Hancock Whitney Corp grew its holdings in shares of Nucor by 46.6% during the first quarter. Hancock Whitney Corp now owns 12,885 shares of the basic materials company’s stock worth $751,000 after buying an additional 4,096 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Nucor by 1.3% during the first quarter. Northern Trust Corp now owns 5,538,288 shares of the basic materials company’s stock worth $323,158,000 after buying an additional 72,896 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its holdings in shares of Nucor by 135.3% during the first quarter. State of Tennessee Treasury Department now owns 281,831 shares of the basic materials company’s stock worth $16,445,000 after buying an additional 162,059 shares in the last quarter. 76.54% of the stock is owned by hedge funds and other institutional investors.
In other Nucor news, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $58.28, for a total value of $582,800.00. Following the transaction, the insider now owns 96,778 shares of the company’s stock, valued at $5,640,221.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leon J. Topalian sold 1,253 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $56.99, for a total transaction of $71,408.47. Following the completion of the transaction, the executive vice president now directly owns 46,593 shares in the company, valued at approximately $2,655,335.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,314 shares of company stock worth $4,310,637. Corporate insiders own 0.96% of the company’s stock.
Shares of NUE stock opened at $51.13 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.64 and a current ratio of 3.37. The stock has a market cap of $15.77 billion, a PE ratio of 6.71, a PEG ratio of 0.80 and a beta of 1.54. Nucor Co. has a twelve month low of $47.13 and a twelve month high of $68.84.
Nucor (NYSE:NUE) last announced its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.05. The firm had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $6.05 billion. Nucor had a net margin of 9.80% and a return on equity of 24.86%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. As a group, analysts forecast that Nucor Co. will post 5.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 annualized dividend and a dividend yield of 3.13%. Nucor’s payout ratio is 21.00%.
NUE has been the subject of a number of research reports. ValuEngine lowered shares of Nucor from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. Longbow Research lowered shares of Nucor from a “buy” rating to a “neutral” rating in a report on Monday, March 11th. Standpoint Research raised shares of Nucor from a “hold” rating to a “buy” rating in a report on Monday, March 18th. UBS Group set a $59.00 target price on shares of Nucor and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, KeyCorp dropped their target price on shares of Nucor from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $65.30.
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.
See Also: Swap
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUE).
Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.