Stratos Wealth Partners LTD. reduced its stake in Nucor Corporation (NYSE:NUE – Free Report) by 7.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,609 shares of the basic materials company’s stock after selling 284 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Nucor were worth $434,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in NUE. Norges Bank purchased a new position in Nucor in the 4th quarter worth approximately $398,077,000. GAMMA Investing LLC raised its holdings in Nucor by 17,785.0% in the 1st quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company’s stock worth $60,867,000 after acquiring an additional 502,961 shares during the last quarter. First Trust Advisors LP raised its holdings in Nucor by 24.6% in the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company’s stock worth $280,627,000 after acquiring an additional 474,274 shares during the last quarter. Voya Investment Management LLC raised its holdings in Nucor by 528.6% in the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company’s stock worth $59,235,000 after acquiring an additional 426,949 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Nucor by 18.7% in the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock worth $284,220,000 after acquiring an additional 384,205 shares during the last quarter. 76.48% of the stock is owned by institutional investors.
Insider Buying and Selling at Nucor
In other Nucor news, EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total transaction of $906,342.56. Following the completion of the transaction, the executive vice president owned 99,379 shares of the company’s stock, valued at $12,707,592.73. This represents a 6.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the transaction, the chief executive officer directly owned 162,993 shares of the company’s stock, valued at $19,590,128.67. This trade represents a 17.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,326 shares of company stock valued at $6,325,108 in the last 90 days. Insiders own 0.46% of the company’s stock.
Analyst Ratings Changes
View Our Latest Research Report on NUE
Nucor Trading Down 0.5%
NYSE:NUE opened at $141.72 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.52 and a quick ratio of 1.48. The firm has a market capitalization of $32.70 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 0.92 and a beta of 1.70. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. The business has a fifty day moving average price of $123.11 and a 200-day moving average price of $123.53.
Nucor (NYSE:NUE – Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). The company had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.25 billion. Nucor had a return on equity of 6.82% and a net margin of 4.40%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the company earned $3.46 earnings per share. Sell-side analysts forecast that Nucor Corporation will post 7.64 EPS for the current year.
Nucor Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.55%. The ex-dividend date is Monday, June 30th. Nucor’s dividend payout ratio is currently 39.15%.
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.
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