Nucor Co. (NUE) Holdings Cut by Boys Arnold & Co. Inc.

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.

Shares of Nucor stock opened at $56.56 on Friday. Nucor Co. has a 12 month low of $49.79 and a 12 month high of $68.84. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 0.84 and a beta of 1.46. The company has a quick ratio of 1.64, a current ratio of 3.37 and a debt-to-equity ratio of 0.40.

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.

TRADEMARK VIOLATION WARNING: “Nucor Co. (NUE) Holdings Cut by Boys Arnold & Co. Inc.” was first published by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this article on another site, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this article can be viewed at https://www.baseballdailydigest.com/news/2019/05/10/nucor-co-nue-holdings-cut-by-boys-arnold-co-inc.html.

Nucor Profile

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.

Featured Article: How to interpret Moving Average Convergence Divergence (MACD)

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUE).

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.