Carlton Hofferkamp & Jenks Wealth Management LLC lowered its stake in Nucor Co. (NYSE:NUE) by 9.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,620 shares of the basic materials company’s stock after selling 984 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Nucor were worth $483,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new stake in shares of Nucor in the first quarter valued at approximately $144,000. Hills Bank & Trust Co. increased its position in shares of Nucor by 1.2% during the second quarter. Hills Bank & Trust Co. now owns 20,045 shares of the basic materials company’s stock worth $1,104,000 after purchasing an additional 247 shares in the last quarter. Cibc World Markets Corp increased its position in shares of Nucor by 228.6% during the second quarter. Cibc World Markets Corp now owns 393,707 shares of the basic materials company’s stock worth $21,693,000 after purchasing an additional 273,888 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Nucor during the second quarter worth $2,396,000. Finally, AGF Investments LLC acquired a new position in shares of Nucor during the second quarter worth $989,000. Institutional investors own 77.35% of the company’s stock.
In related news, EVP Leon J. Topalian sold 5,798 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $56.47, for a total transaction of $327,413.06. Following the completion of the transaction, the executive vice president now owns 93,559 shares in the company, valued at approximately $5,283,276.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman John J. Ferriola sold 19,193 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $56.37, for a total transaction of $1,081,909.41. Following the transaction, the chairman now owns 475,921 shares of the company’s stock, valued at approximately $26,827,666.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,203 shares of company stock worth $3,465,601. Corporate insiders own 0.96% of the company’s stock.
NYSE:NUE traded up $2.25 during mid-day trading on Friday, hitting $52.46. The company’s stock had a trading volume of 102,007 shares, compared to its average volume of 2,396,760. Nucor Co. has a 1 year low of $46.10 and a 1 year high of $64.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 1.76. The stock has a market cap of $14.75 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 0.90 and a beta of 1.63. The business’s fifty day moving average is $50.28 and its two-hundred day moving average is $53.49.
Nucor (NYSE:NUE) last posted its earnings results on Thursday, July 18th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. Nucor had a net margin of 8.84% and a return on equity of 21.65%. The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6 billion. During the same period in the prior year, the company posted $2.07 EPS. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. Analysts anticipate that Nucor Co. will post 4.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Thursday, September 26th. Nucor’s payout ratio is currently 21.00%.
NUE has been the topic of a number of recent analyst reports. Bank of America reduced their price target on Nucor from $50.00 to $46.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. Credit Suisse Group set a $61.00 price target on Nucor and gave the stock a “buy” rating in a research report on Friday, July 19th. KeyCorp reduced their price target on Nucor from $61.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Finally, ValuEngine raised Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Nucor currently has a consensus rating of “Hold” and an average price target of $61.33.
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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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