Nucor Corporation $NUE Shares Bought by Hudson Capital Management LLC

Hudson Capital Management LLC grew its position in shares of Nucor Corporation (NYSE:NUE) by 6.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,784 shares of the basic materials company’s stock after acquiring an additional 2,154 shares during the quarter. Hudson Capital Management LLC’s holdings in Nucor were worth $4,506,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NUE. Diamond Hill Capital Management Inc. acquired a new stake in Nucor during the first quarter worth about $194,804,000. Nuveen LLC acquired a new stake in Nucor during the first quarter worth about $141,216,000. Vanguard Group Inc. increased its stake in Nucor by 2.6% during the first quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock worth $3,484,965,000 after acquiring an additional 745,671 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Nucor by 355.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 539,310 shares of the basic materials company’s stock worth $72,327,000 after acquiring an additional 420,970 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Nucor by 18.2% during the first 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 acquiring an additional 355,364 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NUE. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research note on Wednesday, October 8th. Bank of America increased their target price on Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, September 15th. JPMorgan Chase & Co. increased their target price on Nucor from $165.00 to $172.00 and gave the company an “overweight” rating in a research note on Monday. 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. Finally, Jefferies Financial Group upgraded Nucor from a “hold” rating to a “buy” rating and raised their price objective for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.60.

Insider Buying and Selling

In other news, insider Michael D. Keller sold 6,088 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the sale, the insider owned 22,464 shares of the company’s stock, valued at $3,333,882.24. This trade represents a 21.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Allen C. Behr sold 8,021 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total value of $1,150,050.98. Following the completion of the sale, the executive vice president directly owned 82,703 shares of the company’s stock, valued at approximately $11,857,956.14. This trade represents a 8.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,309 shares of company stock valued at $4,553,771. Insiders own 0.71% of the company’s stock.

Nucor Stock Up 2.4%

Shares of Nucor stock opened at $136.82 on Tuesday. The business’s fifty day moving average price is $141.24 and its two-hundred day moving average price is $129.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. The company has a market capitalization of $31.41 billion, a P/E ratio of 24.70, a PEG ratio of 0.92 and a beta of 1.75. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $170.52.

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

Nucor Dividend Announcement

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

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.