Boys Arnold & Co. Inc. lowered its holdings in shares of Nucor Co. (NYSE:NUE) by 21.6% during the first quarter, HoldingsChannel reports. The firm owned 8,726 shares of the basic materials company’s stock after selling 2,400 shares during the period. Boys Arnold & Co. Inc.’s holdings in Nucor were worth $509,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Pinnacle Bank purchased a new position in Nucor during the fourth quarter worth approximately $26,000. Lindbrook Capital LLC purchased a new position in Nucor during the fourth quarter worth approximately $27,000. Ropes Wealth Advisors LLC purchased a new position in Nucor during the first quarter worth approximately $34,000. Laurel Wealth Advisors LLC purchased a new position in Nucor during the fourth quarter worth approximately $38,000. Finally, Capital Investment Advisory Services LLC purchased a new position in Nucor during the fourth quarter worth approximately $39,000. Institutional investors own 79.02% of the company’s stock.
In related news, Chairman John J. Ferriola sold 65,061 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $56.20, for a total value of $3,656,428.20. Following the completion of the sale, the chairman now owns 403,735 shares of the company’s stock, valued at $22,689,907. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $58.28, for a total value of $582,800.00. Following the completion of the sale, the insider now directly owns 96,778 shares of the company’s stock, valued at approximately $5,640,221.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,314 shares of company stock valued at $4,310,637. Insiders own 0.96% of the company’s stock.
Nucor (NYSE:NUE) last announced its earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. Nucor had a return on equity of 24.86% and a net margin of 9.80%. The business had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $6.05 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Nucor Co. will post 5.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, March 29th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.60 annualized dividend and a dividend yield of 2.83%. Nucor’s dividend payout ratio is presently 21.00%.
A number of equities analysts have issued reports on the company. Longbow Research downgraded Nucor from a “buy” rating to a “neutral” rating in a research report on Monday, March 11th. Zacks Investment Research cut Nucor from a “hold” rating to a “strong sell” rating in a report on Friday, February 1st. Standpoint Research raised Nucor from a “hold” rating to a “buy” rating in a report on Monday, March 18th. ValuEngine cut Nucor from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. Finally, UBS Group set a $59.00 target price on Nucor and gave the company a “hold” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. Nucor presently has a consensus rating of “Buy” and a consensus price target of $70.56.
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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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