Posted by admin on Jun 24th, 2022
Wedge Capital Management L L P NC decreased its position in shares of Nucor Co. (NYSE:NUE – Get Rating) by 25.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,658 shares of the basic materials company’s stock after selling 19,670 shares during the period. Wedge Capital Management L L P NC’s holdings in Nucor were worth $8,720,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. raised its position in shares of Nucor by 9.5% during the first quarter. SOA Wealth Advisors LLC. now owns 934 shares of the basic materials company’s stock valued at $138,000 after buying an additional 81 shares during the last quarter. Global Wealth Management Investment Advisory Inc. raised its position in shares of Nucor by 27.1% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 445 shares of the basic materials company’s stock valued at $51,000 after buying an additional 95 shares during the last quarter. Security National Bank raised its position in shares of Nucor by 3.2% during the fourth quarter. Security National Bank now owns 3,242 shares of the basic materials company’s stock valued at $370,000 after buying an additional 102 shares during the last quarter. Arrow Investment Advisors LLC raised its position in shares of Nucor by 2.2% during the fourth quarter. Arrow Investment Advisors LLC now owns 4,827 shares of the basic materials company’s stock valued at $551,000 after buying an additional 102 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its position in shares of Nucor by 3.2% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 3,384 shares of the basic materials company’s stock valued at $386,000 after buying an additional 104 shares during the last quarter. Institutional investors own 77.70% of the company’s stock.
NYSE NUE opened at $106.04 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.88 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average of $134.67 and a two-hundred day moving average of $127.86. The firm has a market capitalization of $28.21 billion, a price-to-earnings ratio of 3.79 and a beta of 1.23. Nucor Co. has a 52 week low of $87.71 and a 52 week high of $187.90.
Nucor (NYSE:NUE – Get Rating) last posted its quarterly earnings data on Thursday, April 21st. The basic materials company reported $7.67 EPS for the quarter, topping the consensus estimate of $7.35 by $0.32. The company had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.72 billion. Nucor had a net margin of 19.97% and a return on equity of 55.61%. Nucor’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.10 earnings per share. Equities research analysts anticipate that Nucor Co. will post 29.75 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Thursday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Wednesday, June 29th. Nucor’s dividend payout ratio is currently 7.15%.
Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $146.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 14th. StockNews.com initiated coverage on shares of Nucor in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Argus boosted their price target on shares of Nucor from $140.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, April 25th. The Goldman Sachs Group reduced their price target on shares of Nucor from $148.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 31st. Finally, UBS Group set a $120.00 price target on shares of Nucor in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Nucor presently has an average rating of “Hold” and an average price target of $132.55.
In other news, EVP Daniel R. Needham sold 4,000 shares of the business’s stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $160.00, for a total transaction of $640,000.00. Following the completion of the sale, the executive vice president now directly owns 46,994 shares of the company’s stock, valued at $7,519,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Leon J. Topalian sold 48,768 shares of the business’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $112.61, for a total transaction of $5,491,764.48. Following the sale, the chief executive officer now directly owns 135,809 shares of the company’s stock, valued at $15,293,451.49. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by insiders.
Nucor Company Profile (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.
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