Dynamic Advisor Solutions LLC lifted its position in shares of Nucor Co. (NYSE:NUE – Get Rating) by 20.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,693 shares of the basic materials company’s stock after buying an additional 1,449 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Nucor were worth $1,292,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its position in shares of Nucor by 9.5% during the first quarter. SOA Wealth Advisors LLC. now owns 934 shares of the basic materials company’s stock worth $138,000 after buying an additional 81 shares during the period. Global Wealth Management Investment Advisory Inc. raised its holdings in Nucor by 27.1% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 445 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 95 shares in the last quarter. Security National Bank raised its holdings in Nucor by 3.2% during the fourth quarter. Security National Bank now owns 3,242 shares of the basic materials company’s stock worth $370,000 after acquiring an additional 102 shares in the last quarter. Arrow Investment Advisors LLC raised its holdings in Nucor by 2.2% during the fourth quarter. Arrow Investment Advisors LLC now owns 4,827 shares of the basic materials company’s stock worth $551,000 after acquiring an additional 102 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its holdings in Nucor by 3.2% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 3,384 shares of the basic materials company’s stock worth $386,000 after acquiring an additional 104 shares in the last quarter. 77.70% of the stock is owned by institutional investors.
In other news, CEO Leon J. Topalian sold 48,768 shares of the company’s stock in a transaction on Friday, June 17th. The stock was sold at an average price of $112.61, for a total transaction of $5,491,764.48. Following the completion of the sale, the chief executive officer now directly owns 135,809 shares in the company, valued at approximately $15,293,451.49. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael D. Keller sold 3,600 shares of the company’s stock in a transaction on Friday, March 25th. The shares were sold at an average price of $154.58, for a total value of $556,488.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,368 shares of company stock valued at $6,688,252. 0.46% of the stock is owned by company insiders.
Nucor (NYSE:NUE – Get Rating) last announced its earnings results on Thursday, April 21st. The basic materials company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $7.35 by $0.32. The company had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.72 billion. Nucor had a return on equity of 55.61% and a net margin of 19.97%. The firm’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.10 earnings per share. Analysts forecast that Nucor Co. will post 29.75 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Thursday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, June 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.85%. Nucor’s dividend payout ratio is presently 7.15%.
Several analysts recently issued reports on the company. StockNews.com assumed coverage on Nucor in a report on Thursday, March 31st. They set a “buy” rating on the stock. The Goldman Sachs Group dropped their target price on Nucor from $148.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, May 31st. JPMorgan Chase & Co. dropped their target price on Nucor from $146.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, June 14th. Argus upped their price objective on Nucor from $140.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, April 25th. Finally, Credit Suisse Group upped their price objective on Nucor from $142.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, April 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Nucor has an average rating of “Hold” and an average price target of $132.55.
About Nucor (Get Rating)
Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
- Get a free copy of the StockNews.com research report on Nucor (NUE)
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