Nucor Co. (NYSE:NUE) Shares Sold by MV Capital Management Inc.

MV Capital Management Inc. lowered its stake in Nucor Co. (NYSE:NUE) by 69.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169 shares of the basic materials company’s stock after selling 382 shares during the quarter. MV Capital Management Inc.’s holdings in Nucor were worth $33,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Cullinan Associates Inc. lifted its holdings in Nucor by 430.6% in the first quarter. Cullinan Associates Inc. now owns 6,367 shares of the basic materials company’s stock worth $1,260,000 after purchasing an additional 5,167 shares during the period. Diversified Trust Co lifted its holdings in Nucor by 87.6% in the 1st quarter. Diversified Trust Co now owns 10,449 shares of the basic materials company’s stock valued at $2,068,000 after acquiring an additional 4,880 shares during the last quarter. Chapin Davis Inc. lifted its holdings in Nucor by 21.5% in the 1st quarter. Chapin Davis Inc. now owns 2,412 shares of the basic materials company’s stock valued at $477,000 after acquiring an additional 426 shares during the last quarter. Successful Portfolios LLC lifted its holdings in Nucor by 93.8% in the 1st quarter. Successful Portfolios LLC now owns 2,830 shares of the basic materials company’s stock valued at $560,000 after acquiring an additional 1,370 shares during the last quarter. Finally, SteelPeak Wealth LLC lifted its holdings in Nucor by 172.1% in the 1st quarter. SteelPeak Wealth LLC now owns 21,935 shares of the basic materials company’s stock valued at $4,353,000 after acquiring an additional 13,875 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NUE shares. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and upped their price target for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. 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 objective 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 for the company in a research note on Wednesday, June 26th. Finally, BMO Capital Markets reduced their price objective on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research note on Monday, June 17th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $189.67.

Nucor Price Performance

Shares of NUE opened at $156.43 on Wednesday. The company has a market capitalization of $37.51 billion, a price-to-earnings ratio of 9.20 and a beta of 1.57. Nucor Co. has a fifty-two week low of $140.07 and a fifty-two week high of $203.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48. The business’s 50-day moving average is $165.40 and its 200-day moving average is $177.66.

Nucor (NYSE:NUE) last issued its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The business had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. Nucor’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.45 EPS. Equities research analysts expect that Nucor Co. will post 10.84 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a yield of 1.38%. Nucor’s dividend payout ratio is currently 12.71%.

About Nucor

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.