Nucor Co. (NYSE:NUE) Holdings Cut by Lbp Am Sa

Lbp Am Sa lessened its stake in shares of Nucor Co. (NYSE:NUE) by 33.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,674 shares of the basic materials company’s stock after selling 3,352 shares during the quarter. Lbp Am Sa’s holdings in Nucor were worth $1,321,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NUE. Rise Advisors LLC acquired a new stake in shares of Nucor during the 1st quarter valued at $27,000. Chilton Capital Management LLC grew its position in Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 65 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Nucor during the 1st quarter worth approximately $28,000. Criterion Capital Advisors LLC bought a new position in Nucor during the 4th quarter valued at about $25,000. Finally, Tompkins Financial Corp raised its stake 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 worth $30,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Down 4.4 %

Shares of NYSE NUE traded down $7.16 during trading on Thursday, reaching $155.78. The company had a trading volume of 2,516,628 shares, compared to its average volume of 1,483,468. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. Nucor Co. has a 12-month low of $140.07 and a 12-month high of $203.00. The stock has a market cap of $37.35 billion, a PE ratio of 9.48 and a beta of 1.57. The business’s 50-day moving average is $159.82 and its 200 day moving average is $175.47.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.31 by $0.37. The firm had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $5.81 earnings per share. As a group, equities analysts forecast that Nucor Co. will post 10.57 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, June 28th. Nucor’s payout ratio is 12.71%.

Insider Transactions at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the sale, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Nucor in a research note on Monday, May 20th. They set a “hold” rating and a $190.00 price target for the company. Bank of America reduced their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. BMO Capital Markets reduced their price target on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday, June 17th. Finally, StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Nucor presently has an average rating of “Hold” and an average price target of $191.29.

Nucor Company 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.