240 Shares in Nucor Co. (NYSE:NUE) Bought by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. bought a new stake in Nucor Co. (NYSE:NUE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 240 shares of the basic materials company’s stock, valued at approximately $38,000.

Several other hedge funds also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. increased its holdings in shares of Nucor by 94.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,855 shares of the basic materials company’s stock valued at $323,000 after acquiring an additional 900 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Nucor by 6.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 262,385 shares of the basic materials company’s stock worth $45,665,000 after buying an additional 15,058 shares during the last quarter. Norden Group LLC bought a new stake in shares of Nucor during the 1st quarter worth $1,847,000. Banco Santander S.A. boosted its holdings in shares of Nucor by 86.2% during the 1st quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock worth $2,552,000 after buying an additional 5,971 shares during the period. Finally, AIA Group Ltd grew its position in shares of Nucor by 53.2% in the fourth quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock valued at $2,302,000 after purchasing an additional 4,592 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the transaction, the executive vice president now owns 99,049 shares in the company, valued at $15,847,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by insiders.

Nucor Price Performance

NYSE NUE traded down $0.53 on Tuesday, reaching $149.99. The company’s stock had a trading volume of 1,180,169 shares, compared to its average volume of 1,489,581. The firm has a market cap of $35.96 billion, a PE ratio of 8.82 and a beta of 1.57. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. Nucor Co. has a 52 week low of $140.07 and a 52 week high of $203.00. The business has a 50-day moving average price of $158.68 and a 200 day moving average price of $175.17.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.81 EPS. Sell-side analysts expect that Nucor Co. will post 10.57 EPS for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be paid a $0.54 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.16 annualized dividend and a dividend yield of 1.44%. Nucor’s dividend payout ratio is presently 12.71%.

Analysts Set New Price Targets

A number of research firms have issued reports on NUE. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Bank of America cut their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Jefferies Financial Group initiated coverage on shares of Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective on the stock. BMO Capital Markets reduced their target price on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research note on Monday, June 17th. Finally, JPMorgan Chase & Co. lowered their price target on Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $191.29.

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.