Nucor Co. (NYSE:NUE) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in Nucor Co. (NYSE:NUEFree Report) by 1.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,068 shares of the basic materials company’s stock after selling 2,019 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.06% of Nucor worth $26,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of Nucor in the first quarter valued at approximately $27,000. Criterion Capital Advisors LLC purchased a new stake in shares of Nucor in the fourth quarter valued at approximately $25,000. Tompkins Financial Corp grew its position in shares of Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of Nucor by 54.1% in the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 59 shares in the last quarter. Finally, Valley National Advisers Inc. grew its position in Nucor by 716.7% in the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 172 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Trading Down 1.6 %

Shares of NYSE NUE opened at $153.84 on Friday. Nucor Co. has a twelve month low of $140.07 and a twelve month high of $203.00. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $164.69 and a 200-day simple moving average of $177.36. The stock has a market capitalization of $36.88 billion, a PE ratio of 9.05 and a beta of 1.57.

Nucor (NYSE:NUEGet Free Report) last released its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The company had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the business posted $4.45 earnings per share. On average, equities analysts forecast that Nucor Co. will post 10.84 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Friday, June 28th. Nucor’s payout ratio is currently 12.71%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Jefferies Financial Group assumed coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 price objective for the company. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. BMO Capital Markets lowered their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research report on Monday, June 17th. Finally, Bank of America lowered their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $189.50.

View Our Latest Stock Report on NUE

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.

Further Reading

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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