Bill Few Associates Inc. Buys 200 Shares of Nucor Corporation $NUE

Bill Few Associates Inc. grew its stake in Nucor Corporation (NYSE:NUEFree Report) by 7.0% in the second quarter, HoldingsChannel.com reports. The fund owned 3,045 shares of the basic materials company’s stock after acquiring an additional 200 shares during the period. Bill Few Associates Inc.’s holdings in Nucor were worth $394,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NUE. Diamond Hill Capital Management Inc. bought a new stake in Nucor during the 1st quarter worth approximately $194,804,000. Nuveen LLC bought a new stake in Nucor during the 1st quarter worth approximately $141,216,000. Vanguard Group Inc. increased its stake in Nucor by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock worth $3,484,965,000 after purchasing an additional 745,671 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Nucor by 355.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 539,310 shares of the basic materials company’s stock worth $72,327,000 after purchasing an additional 420,970 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Nucor by 18.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock worth $277,920,000 after purchasing an additional 355,364 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NUE. JPMorgan Chase & Co. increased their target price on Nucor from $143.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Bank of America increased their target price on Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Wells Fargo & Company lowered their target price on Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, September 18th. Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and increased their target price for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research note on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.60.

Check Out Our Latest Stock Analysis on NUE

Nucor Price Performance

Shares of NUE opened at $133.68 on Monday. The stock has a market capitalization of $30.68 billion, a P/E ratio of 24.13, a P/E/G ratio of 0.92 and a beta of 1.75. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. The company has a 50 day moving average of $141.25 and a 200-day moving average of $129.33. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUEGet Free Report) last issued its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.06. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $2.68 EPS. As a group, equities research analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s dividend payout ratio is presently 39.71%.

Insider Buying and Selling

In other news, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the sale, the executive vice president owned 84,080 shares of the company’s stock, valued at approximately $12,183,192. This represents a 10.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael D. Keller sold 6,088 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the sale, the insider directly owned 22,464 shares of the company’s stock, valued at approximately $3,333,882.24. The trade was a 21.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,309 shares of company stock worth $4,553,771. 0.71% of the stock is owned by corporate insiders.

Nucor Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Corporation (NYSE:NUEFree Report).

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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