D.A. Davidson & CO. Has $3.51 Million Position in Nucor Corporation $NUE

D.A. Davidson & CO. lowered its position in Nucor Corporation (NYSE:NUE) by 19.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 20,736 shares of the basic materials company’s stock after selling 4,955 shares during the quarter. D.A. Davidson & CO.’s holdings in Nucor were worth $3,506,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NUE. Norges Bank bought a new stake in Nucor during the 4th quarter worth approximately $609,002,000. AQR Capital Management LLC increased its position in Nucor by 580.9% in the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock valued at $84,699,000 after acquiring an additional 557,819 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of Nucor by 169.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock valued at $127,216,000 after acquiring an additional 489,950 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Nucor by 27.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock valued at $290,405,000 after acquiring an additional 383,952 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Nucor by 494.5% during the fourth quarter. M&T Bank Corp now owns 434,511 shares of the basic materials company’s stock worth $70,873,000 after purchasing an additional 361,417 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insider Activity

In other news, EVP Randy J. Spicer sold 2,500 shares of Nucor stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $225.00, for a total value of $562,500.00. Following the completion of the transaction, the executive vice president directly owned 20,510 shares of the company’s stock, valued at approximately $4,614,750. This trade represents a 10.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Bradley Ford sold 2,240 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total value of $519,971.20. Following the completion of the transaction, the executive vice president directly owned 43,649 shares in the company, valued at $10,132,242.37. This represents a 4.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is owned by insiders.

Nucor Stock Up 0.1%

Shares of NYSE NUE opened at $236.77 on Monday. The company’s 50 day moving average price is $239.20 and its 200-day moving average price is $201.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. Nucor Corporation has a 52-week low of $131.32 and a 52-week high of $270.90. The company has a market capitalization of $53.92 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 0.54 and a beta of 1.91.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the prior year, the company posted $0.77 earnings per share. Nucor’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities analysts forecast that Nucor Corporation will post 17.68 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor’s dividend payout ratio is 22.18%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NUE. Morgan Stanley boosted their price objective on shares of Nucor from $227.00 to $258.00 and gave the stock an “equal weight” rating in a research note on Monday, June 22nd. BMO Capital Markets raised their target price on Nucor from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Seaport Research Partners lifted their target price on Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. CICC Research started coverage on Nucor in a research report on Monday, May 25th. They issued an “outperform” rating on the stock. Finally, BNP Paribas Exane increased their price target on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $266.31.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.