Ritholtz Wealth Management cut its holdings in Nucor Corporation (NYSE:NUE – Free Report) by 20.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,068 shares of the basic materials company’s stock after selling 517 shares during the quarter. Ritholtz Wealth Management’s holdings in Nucor were worth $249,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Allworth Financial LP boosted its position in Nucor by 65.9% during the fourth quarter. Allworth Financial LP now owns 1,375 shares of the basic materials company’s stock worth $168,000 after acquiring an additional 546 shares during the last quarter. Principal Financial Group Inc. boosted its position in Nucor by 10.0% during the fourth quarter. Principal Financial Group Inc. now owns 314,037 shares of the basic materials company’s stock worth $36,651,000 after acquiring an additional 28,622 shares during the last quarter. CIBC Asset Management Inc boosted its position in Nucor by 2.3% during the fourth quarter. CIBC Asset Management Inc now owns 35,988 shares of the basic materials company’s stock worth $4,200,000 after acquiring an additional 809 shares during the last quarter. Nicholson Wealth Management Group LLC boosted its position in Nucor by 28.4% during the fourth quarter. Nicholson Wealth Management Group LLC now owns 1,931 shares of the basic materials company’s stock worth $225,000 after acquiring an additional 427 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. boosted its position in Nucor by 34.4% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 53,173 shares of the basic materials company’s stock worth $6,206,000 after acquiring an additional 13,611 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. Argus set a $155.00 target price on shares of Nucor in a research report on Wednesday, March 5th. UBS Group decreased their price target on shares of Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Morgan Stanley lifted their price target on shares of Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday. Wall Street Zen lowered shares of Nucor from a “hold” rating to a “sell” rating in a report on Wednesday, April 30th. Finally, BMO Capital Markets upgraded shares of Nucor from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $155.56.
Insider Buying and Selling
In other news, CEO Leon J. Topalian sold 34,238 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the completion of the sale, the chief executive officer now owns 162,993 shares of the company’s stock, valued at approximately $19,590,128.67. The trade was a 17.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.
Nucor Stock Performance
Shares of NUE stock opened at $124.08 on Friday. The company’s fifty day simple moving average is $116.31 and its 200-day simple moving average is $122.73. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. The company has a market cap of $28.63 billion, a PE ratio of 22.08, a P/E/G ratio of 0.80 and a beta of 1.67.
Nucor (NYSE:NUE – Get Free Report) last issued its earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Nucor had a net margin of 4.40% and a return on equity of 6.82%. The business had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.25 billion. During the same period in the prior year, the business posted $3.46 EPS. The business’s revenue was down 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.
Nucor Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Monday, June 30th. Nucor’s dividend payout ratio (DPR) is 39.15%.
Nucor Profile
Nucor Corporation engages in manufacture and sale of steel and steel products. 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.
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