Nucor Corporation (NYSE:NUE) Holdings Raised by Legacy Advisors LLC

Legacy Advisors LLC increased its stake in Nucor Corporation (NYSE:NUE) by 18.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,053 shares of the basic materials company’s stock after buying an additional 322 shares during the quarter. Legacy Advisors LLC’s holdings in Nucor were worth $247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NUE. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Nucor during the 4th quarter worth about $25,000. Putney Financial Group LLC acquired a new position in shares of Nucor during the fourth quarter valued at approximately $29,000. MV Capital Management Inc. increased its stake in shares of Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 119 shares during the period. Fourth Dimension Wealth LLC bought a new stake in Nucor during the fourth quarter worth approximately $41,000. Finally, Park Square Financial Group LLC acquired a new stake in Nucor in the fourth quarter worth approximately $48,000. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 0.1%

Shares of NYSE NUE opened at $128.27 on Thursday. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52. The company has a market cap of $29.60 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 0.83 and a beta of 1.67. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $117.36 and a 200-day simple moving average of $122.35.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a return on equity of 6.82% and a net margin of 4.40%. The company had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same quarter in the previous year, the firm posted $3.46 EPS. Nucor’s quarterly revenue was down 3.8% on a year-over-year basis. Sell-side analysts predict that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Monday, June 30th. Nucor’s dividend payout ratio (DPR) is currently 39.15%.

Insider Activity

In related news, CEO Leon J. Topalian sold 34,238 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 162,993 shares of the company’s stock, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NUE has been the topic of several research analyst reports. Argus set a $155.00 price target on Nucor in a research report on Wednesday, March 5th. Morgan Stanley raised their target price on Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. UBS Group lowered their target price on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. The Goldman Sachs Group cut their price target on shares of Nucor from $175.00 to $169.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, Wall Street Zen lowered shares of Nucor from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.56.

Nucor Company 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.