Amalgamated Bank Has $7.65 Million Stock Position in Nucor Co. (NYSE:NUE)

Amalgamated Bank decreased its stake in shares of Nucor Co. (NYSE:NUE) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,391 shares of the basic materials company’s stock after selling 2,135 shares during the quarter. Amalgamated Bank’s holdings in Nucor were worth $7,650,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of Nucor during the 1st quarter worth approximately $27,000. Chilton Capital Management LLC increased its position in shares of Nucor by 94.2% during 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. Tompkins Financial Corp boosted its stake in shares of Nucor by 208.0% during the 1st 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 period. Finally, Salomon & Ludwin LLC bought a new position in shares of Nucor during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

NUE opened at $148.98 on Friday. The company has a market capitalization of $35.72 billion, a PE ratio of 8.76 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. The business has a fifty day simple moving average of $149.95 and a 200 day simple moving average of $166.43. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.37. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.81 EPS. Research analysts expect that Nucor Co. will post 9.95 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.45%. Nucor’s dividend payout ratio is presently 12.71%.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction on 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 transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on NUE shares. Bank of America reduced their target price on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. BMO Capital Markets reduced their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday. Morgan Stanley reduced their target price on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $170.00 to $174.00 in a research note on Monday, September 9th. Finally, Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $192.00.

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.