Hager Investment Management Services LLC Acquires 685 Shares of Nucor Corporation (NYSE:NUE)

Hager Investment Management Services LLC increased its stake in Nucor Corporation (NYSE:NUE) by 12.8% during the first quarter, Holdings Channel.com reports. The firm owned 6,044 shares of the basic materials company’s stock after purchasing an additional 685 shares during the quarter. Hager Investment Management Services LLC’s holdings in Nucor were worth $727,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Canal Capital Management LLC lifted its position in shares of Nucor by 2.5% during the 4th quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company’s stock valued at $359,000 after buying an additional 75 shares in the last quarter. Horrell Capital Management Inc. lifted its holdings in Nucor by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company’s stock valued at $3,111,000 after purchasing an additional 76 shares in the last quarter. Highline Wealth Partners LLC boosted its position in shares of Nucor by 2.6% in the first quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company’s stock worth $423,000 after purchasing an additional 90 shares during the period. Diligent Investors LLC boosted its position in shares of Nucor by 4.6% in the first quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company’s stock worth $276,000 after purchasing an additional 102 shares during the period. Finally, Horizon Advisory Services Inc. increased its stake in shares of Nucor by 6.1% in the first quarter. Horizon Advisory Services Inc. now owns 1,962 shares of the basic materials company’s stock worth $236,000 after purchasing an additional 112 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of Nucor stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the completion of the transaction, the chief executive officer directly owned 162,993 shares of the company’s stock, valued at $19,590,128.67. This trade represents a 17.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Daniel R. Needham sold 7,088 shares of Nucor stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total transaction of $906,342.56. Following the completion of the transaction, the executive vice president directly owned 99,379 shares of the company’s stock, valued at $12,707,592.73. The trade was a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,326 shares of company stock valued at $6,325,108. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NUE. BMO Capital Markets upgraded Nucor from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. The Goldman Sachs Group dropped their price objective on Nucor from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Monday, April 7th. UBS Group decreased their target price on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. Wall Street Zen downgraded Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley lifted their price objective on shares of Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $152.75.

Nucor Stock Performance

NUE opened at $141.72 on Tuesday. The stock has a market capitalization of $32.70 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 0.92 and a beta of 1.70. The company has a fifty day moving average of $123.11 and a 200 day moving average of $123.53. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 2.52.

Nucor (NYSE:NUE) last posted its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). The company had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. The business’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.46 earnings per share. As a group, sell-side analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.55%. Nucor’s payout ratio is 39.15%.

Nucor Company 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.