Tiverton Asset Management LLC increased its stake in shares of Nucor (NYSE:NUE) by 46.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,013 shares of the basic materials company’s stock after acquiring an additional 1,267 shares during the quarter. Tiverton Asset Management LLC’s holdings in Nucor were worth $245,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Independence Bank of Kentucky bought a new position in shares of Nucor during the fourth quarter worth $100,000. Jacobi Capital Management LLC boosted its position in shares of Nucor by 166.7% during the first quarter. Jacobi Capital Management LLC now owns 1,664 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 1,040 shares during the last quarter. Barrett Asset Management LLC bought a new position in shares of Nucor during the fourth quarter worth $101,000. Cerebellum GP LLC bought a new position in shares of Nucor during the fourth quarter worth $131,000. Finally, Financial Gravity Companies Inc. bought a new position in shares of Nucor during the fourth quarter worth $140,000. Hedge funds and other institutional investors own 79.50% of the company’s stock.
In other news, Director Victoria F. Haynes sold 1,800 shares of the stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $60.91, for a total value of $109,638.00. Following the sale, the director now owns 28,773 shares of the company’s stock, valued at $1,752,563.43. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Victoria F. Haynes sold 3,000 shares of the stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $69.12, for a total transaction of $207,360.00. Following the completion of the sale, the director now directly owns 30,573 shares in the company, valued at approximately $2,113,205.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,837 shares of company stock worth $3,504,495. 0.70% of the stock is owned by insiders.
NUE has been the subject of a number of research reports. Jefferies Group restated a “buy” rating and set a $76.00 target price on shares of Nucor in a research report on Wednesday, January 31st. Zacks Investment Research upgraded shares of Nucor from a “hold” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research report on Wednesday, April 11th. BMO Capital Markets upped their target price on shares of Nucor to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 31st. They noted that the move was a valuation call. Goldman Sachs initiated coverage on shares of Nucor in a research report on Tuesday, March 20th. They set a “buy” rating and a $78.00 target price for the company. Finally, Morgan Stanley upped their target price on shares of Nucor from $68.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $70.40.
Nucor opened at $65.54 on Friday, MarketBeat reports. The firm has a market cap of $20.92 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 0.94 and a beta of 1.55. The company has a current ratio of 2.49, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35. Nucor has a 52-week low of $51.67 and a 52-week high of $70.48.
Nucor (NYSE:NUE) last released its quarterly earnings results on Thursday, April 19th. The basic materials company reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.07. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.50 billion. Nucor had a net margin of 6.33% and a return on equity of 12.94%. Nucor’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 earnings per share. equities research analysts predict that Nucor will post 5.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 11th. Investors of record on Thursday, March 29th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Wednesday, March 28th. Nucor’s payout ratio is 43.30%.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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