Cannon Advisors Inc. Sells 136 Shares of Nucor Corporation (NYSE:NUE)

Cannon Advisors Inc. lessened its stake in Nucor Corporation (NYSE:NUE) by 4.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,990 shares of the basic materials company’s stock after selling 136 shares during the quarter. Cannon Advisors Inc.’s holdings in Nucor were worth $360,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NUE. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Nucor during the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new position in shares of Nucor during the 4th quarter worth approximately $29,000. MV Capital Management Inc. raised its holdings in shares of Nucor by 73.5% in the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 119 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of Nucor in the fourth quarter worth $41,000. Finally, Park Square Financial Group LLC bought a new stake in shares of Nucor in the fourth quarter worth $48,000. Institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In related news, EVP Kenneth Rex Query sold 10,000 shares of Nucor stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the completion of the sale, the executive vice president owned 94,080 shares of the company’s stock, valued at approximately $12,265,209.60. The trade was a 9.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Leon J. Topalian sold 34,238 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the transaction, the chief executive officer owned 162,993 shares in the company, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,326 shares of company stock valued at $6,325,108 in the last quarter. 0.46% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NUE shares. BMO Capital Markets raised shares of Nucor from a “market perform” rating to an “outperform” rating and raised their target price for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. UBS Group reduced their price objective on shares of Nucor from $153.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Wall Street Zen downgraded Nucor from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. Argus set a $155.00 price target on Nucor in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their price target on Nucor from $156.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and an average price target of $150.00.

Nucor Trading Up 3.5%

Shares of NYSE:NUE opened at $138.84 on Thursday. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52. The company has a market capitalization of $32.04 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 0.87 and a beta of 1.70. The company has a 50-day simple moving average of $119.66 and a 200 day simple moving average of $122.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 2.52.

Nucor (NYSE:NUE) last released 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 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 the consensus estimate of $7.25 billion. During the same quarter in the prior year, the company earned $3.46 EPS. Nucor’s quarterly revenue was down 3.8% on a year-over-year basis. Sell-side analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Monday, June 30th. Nucor’s dividend payout ratio 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.