Posted by admin on Aug 8th, 2022
Great Lakes Advisors LLC purchased a new stake in Nucor Co. (NYSE:NUE – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 19,881 shares of the basic materials company’s stock, valued at approximately $2,955,000.
Several other large investors have also modified their holdings of the business. Rosenberg Matthew Hamilton boosted its holdings in Nucor by 2.8% during the 1st quarter. Rosenberg Matthew Hamilton now owns 2,276 shares of the basic materials company’s stock valued at $338,000 after acquiring an additional 63 shares during the period. Grove Bank & Trust boosted its stake in shares of Nucor by 1.2% in the first quarter. Grove Bank & Trust now owns 5,641 shares of the basic materials company’s stock valued at $839,000 after purchasing an additional 65 shares during the period. Mayflower Financial Advisors LLC boosted its stake in shares of Nucor by 3.0% in the first quarter. Mayflower Financial Advisors LLC now owns 2,223 shares of the basic materials company’s stock valued at $330,000 after purchasing an additional 65 shares during the period. Advisor Partners LLC grew its holdings in shares of Nucor by 0.7% in the first quarter. Advisor Partners LLC now owns 11,380 shares of the basic materials company’s stock valued at $1,692,000 after purchasing an additional 78 shares in the last quarter. Finally, SOA Wealth Advisors LLC. grew its holdings in shares of Nucor by 9.5% in the first quarter. SOA Wealth Advisors LLC. now owns 934 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 77.70% of the company’s stock.
NYSE NUE opened at $136.64 on Monday. The company has a quick ratio of 1.39, a current ratio of 2.62 and a debt-to-equity ratio of 0.37. Nucor Co. has a 52 week low of $88.50 and a 52 week high of $187.90. The stock has a market capitalization of $36.35 billion, a PE ratio of 4.19 and a beta of 1.40. The firm has a 50 day moving average of $118.80 and a two-hundred day moving average of $128.95.
Nucor (NYSE:NUE – Get Rating) last issued its quarterly earnings data on Thursday, July 21st. The basic materials company reported $9.67 earnings per share for the quarter, topping the consensus estimate of $8.91 by $0.76. The business had revenue of $11.79 billion during the quarter, compared to the consensus estimate of $11.59 billion. Nucor had a net margin of 21.03% and a return on equity of 57.78%. The company’s revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.04 EPS. As a group, research analysts expect that Nucor Co. will post 3.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Thursday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.46%. Nucor’s dividend payout ratio is presently 6.14%.
NUE has been the subject of a number of research reports. The Goldman Sachs Group dropped their price objective on shares of Nucor from $148.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, May 31st. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $146.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, June 14th. BMO Capital Markets dropped their price objective on shares of Nucor from $168.00 to $128.00 in a report on Tuesday, May 17th. Credit Suisse Group lifted their price objective on shares of Nucor from $142.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. Finally, UBS Group set a $120.00 price objective on shares of Nucor in a report on Monday, June 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Nucor presently has an average rating of “Hold” and an average target price of $133.18.
In other news, EVP Allen C. Behr sold 3,407 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $122.17, for a total transaction of $416,233.19. Following the completion of the sale, the executive vice president now owns 64,087 shares in the company, valued at approximately $7,829,508.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Leon J. Topalian sold 48,768 shares of the company’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $112.61, for a total value of $5,491,764.48. Following the completion of the sale, the chief executive officer now owns 135,809 shares in the company, valued at approximately $15,293,451.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 3,407 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $122.17, for a total transaction of $416,233.19. Following the completion of the sale, the executive vice president now owns 64,087 shares of the company’s stock, valued at approximately $7,829,508.79. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.
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.
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.
Armbruster Capital Management Inc. Grows Holdings in Johnson & Johnson (NYSE:JNJ)
New York State Common Retirement Fund Buys 64,480 Shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX)