Nucor Corporation (NYSE:NUE) Shares Sold by Rosenberg Matthew Hamilton

Rosenberg Matthew Hamilton decreased its position in shares of Nucor Corporation (NYSE:NUE) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,313 shares of the basic materials company’s stock after selling 127 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Nucor were worth $278,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of NUE. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor in the fourth quarter valued at approximately $25,000. Putney Financial Group LLC acquired a new stake in Nucor in the 4th quarter valued at approximately $29,000. MV Capital Management Inc. raised its stake in Nucor by 73.5% during the 1st 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 in the last quarter. Fourth Dimension Wealth LLC acquired a new position in Nucor during the 4th quarter worth $41,000. Finally, Spirit of America Management Corp NY bought a new position in shares of Nucor in the first quarter worth $48,000. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NUE shares. UBS Group cut their price objective on shares of Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $156.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group lowered their price objective on shares of Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Morgan Stanley increased their price target on Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Finally, BMO Capital Markets raised Nucor from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.00.

Nucor Price Performance

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

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the firm earned $3.46 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Monday, June 30th. Nucor’s payout ratio is 39.15%.

Insider Activity

In related news, EVP Kenneth Rex Query sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $130.37, for a total value of $1,303,700.00. Following the completion of the sale, the executive vice president owned 94,080 shares in the company, valued at approximately $12,265,209.60. This represents a 9.61% decrease in their position. 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 34,238 shares of Nucor stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the transaction, the chief executive officer owned 162,993 shares in the company, valued at approximately $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,326 shares of company stock worth $6,325,108 over the last 90 days. 0.46% of the stock is owned by company insiders.

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.