CX Institutional Purchases 5,960 Shares of Nucor Co. (NYSE:NUE)

CX Institutional grew its holdings in shares of Nucor Co. (NYSE:NUE) by 52.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,245 shares of the basic materials company’s stock after buying an additional 5,960 shares during the quarter. CX Institutional’s holdings in Nucor were worth $2,726,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Nucor during the 4th quarter valued at $377,631,000. Charles Schwab Investment Management Inc. increased its position in shares of Nucor by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,499,893 shares of the basic materials company’s stock valued at $261,041,000 after acquiring an additional 36,304 shares during the last quarter. First Trust Advisors LP boosted its position in Nucor by 6.7% in the fourth quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock worth $237,949,000 after purchasing an additional 85,475 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Nucor by 6.5% during the 1st quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock valued at $230,572,000 after purchasing an additional 70,917 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Nucor by 23.5% in the 1st quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock worth $159,141,000 after buying an additional 153,077 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling

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

Nucor Price Performance

NUE stock opened at $143.97 on Friday. The firm has a 50 day moving average of $157.47 and a 200-day moving average of $174.64. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $34.52 billion, a P/E ratio of 8.57 and a beta of 1.57. Nucor Co. has a 12 month low of $140.07 and a 12 month high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.37. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.81 earnings per share. As a group, sell-side analysts predict that Nucor Co. will post 10.57 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, June 28th. Nucor’s payout ratio is 12.71%.

Analyst Upgrades and Downgrades

Several analysts have commented on NUE shares. Jefferies Financial Group assumed coverage on shares of Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 price objective on the stock. Bank of America dropped their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. JPMorgan Chase & Co. lowered their target price on Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, BMO Capital Markets lowered their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday, June 17th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $191.29.

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.