Nucor Co. (NYSE:NUE) Shares Bought by Copperwynd Financial LLC

Copperwynd Financial LLC grew its stake in Nucor Co. (NYSE:NUE) by 23.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,574 shares of the basic materials company’s stock after acquiring an additional 295 shares during the quarter. Copperwynd Financial LLC’s holdings in Nucor were worth $256,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Rise Advisors LLC acquired a new stake in Nucor during the first quarter worth about $27,000. Chilton Capital Management LLC raised 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 valued at $27,000 after buying an additional 65 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Nucor during the 1st quarter valued at approximately $28,000. Tompkins Financial Corp lifted its holdings in Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 104 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in Nucor in the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

In other news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the sale, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by insiders.

Nucor Stock Performance

Shares of NUE stock opened at $150.13 on Monday. The firm has a 50 day moving average of $148.14 and a two-hundred day moving average of $164.64. The stock has a market capitalization of $36.00 billion, a PE ratio of 8.83 and a beta of 1.55. 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 52 week low of $133.42 and a 52 week high of $203.00.

Nucor (NYSE:NUE) last released its earnings results 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 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%. Nucor’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted $5.81 EPS. On average, research analysts predict that Nucor Co. will post 9.28 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.44%. Nucor’s dividend payout ratio is currently 12.71%.

Analyst Ratings Changes

Several equities analysts have recently commented on NUE shares. Bank of America decreased their price target on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets dropped their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $170.00 to $174.00 in a report on Monday, September 9th. Finally, Morgan Stanley dropped their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently 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.