Yousif Capital Management LLC Sells 823 Shares of Nucor Corporation $NUE

Yousif Capital Management LLC reduced its position in shares of Nucor Corporation (NYSE:NUE) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,709 shares of the basic materials company’s stock after selling 823 shares during the period. Yousif Capital Management LLC’s holdings in Nucor were worth $11,880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NUE. Matrix Trust Co boosted its holdings in Nucor by 53.8% in the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 84 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares during the last quarter. Spirit of America Management Corp NY acquired a new position in Nucor in the first quarter valued at approximately $48,000. Meeder Asset Management Inc. lifted its stake in Nucor by 209.6% in the first quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company’s stock valued at $50,000 after buying an additional 283 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Nucor by 49.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 442 shares of the basic materials company’s stock valued at $57,000 after buying an additional 147 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NUE has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Bank of America boosted their price target on Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and boosted their price target for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on Nucor from $165.00 to $172.00 and gave the company an “overweight” rating in a research note on Monday. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.60.

Nucor Price Performance

Shares of NYSE:NUE opened at $136.82 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. The stock’s 50 day moving average is $141.24 and its 200-day moving average is $129.44. The firm has a market capitalization of $31.41 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 0.92 and a beta of 1.75.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter in the prior year, the company posted $2.68 earnings per share. Nucor’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 annualized dividend and a yield of 1.6%. Nucor’s dividend payout ratio is 39.71%.

Insider Buying and Selling

In related news, insider Michael D. Keller sold 6,088 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total transaction of $903,520.08. Following the completion of the sale, the insider owned 22,464 shares in the company, valued at approximately $3,333,882.24. This represents a 21.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Daniel R. Needham sold 7,200 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $146.00, for a total value of $1,051,200.00. Following the sale, the executive vice president owned 92,179 shares of the company’s stock, valued at $13,458,134. This trade represents a 7.24% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,309 shares of company stock worth $4,553,771. 0.71% of the stock is owned by corporate insiders.

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.