Sterling Capital Management LLC Has $1.34 Million Position in Nucor Corporation $NUE

Sterling Capital Management LLC lessened its holdings in shares of Nucor Corporation (NYSE:NUE) by 42.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,937 shares of the basic materials company’s stock after selling 5,880 shares during the quarter. Sterling Capital Management LLC’s holdings in Nucor were worth $1,342,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Strive Financial Group LLC acquired a new position in shares of Nucor during the 4th quarter worth $27,000. Stance Capital LLC acquired a new stake in shares of Nucor in the 3rd quarter valued at $25,000. Mcguire Capital Advisors Inc. bought a new stake in Nucor in the fourth quarter worth $32,000. Motiv8 Investments LLC bought a new stake in Nucor in the fourth quarter worth $32,000. Finally, Reflection Asset Management acquired a new position in Nucor during the fourth quarter worth $36,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Performance

Shares of NYSE NUE opened at $228.79 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $236.59 and its two-hundred day moving average is $195.55. The company has a market cap of $52.11 billion, a P/E ratio of 22.65, a P/E/G ratio of 0.57 and a beta of 1.88. Nucor Corporation has a 12 month low of $128.46 and a 12 month high of $270.90.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. The company had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.Nucor’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 earnings per share. On average, equities analysts expect that Nucor Corporation will post 17 EPS for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. Nucor’s dividend payout ratio is 22.18%.

Insider Buying and Selling

In other Nucor news, EVP Randy J. Spicer sold 2,500 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $225.00, for a total value of $562,500.00. Following the sale, the executive vice president directly owned 20,510 shares in the company, valued at $4,614,750. This trade represents a 10.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Allen C. Behr sold 10,096 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the transaction, the executive vice president directly owned 62,871 shares of the company’s stock, valued at $14,213,875.68. This represents a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NUE has been the subject of a number of analyst reports. Bank of America boosted their price target on Nucor from $265.00 to $290.00 in a research report on Friday, June 12th. Weiss Ratings raised Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 14th. Zacks Research raised Nucor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. boosted their target price on Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Finally, Wells Fargo & Company decreased their target price on Nucor from $292.00 to $283.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus price target of $266.92.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.