Anchor Investment Management LLC Sells 600 Shares of Nucor Co. (NYSE:NUE)

Anchor Investment Management LLC lowered its position in shares of Nucor Co. (NYSE:NUE) by 19.6% in the second quarter, Holdings Channel reports. The firm owned 2,458 shares of the basic materials company’s stock after selling 600 shares during the period. Anchor Investment Management LLC’s holdings in Nucor were worth $389,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. boosted its position in shares of Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 89 shares in the last quarter. Rise Advisors LLC acquired a new stake in Nucor during the 1st quarter worth $27,000. Chilton Capital Management LLC lifted its holdings in Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 65 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Nucor in the first quarter valued at about $28,000. Finally, Tompkins Financial Corp grew its stake in Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 104 shares during the period. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 0.1 %

Shares of Nucor stock opened at $151.44 on Friday. The business’s 50 day simple moving average is $147.33 and its 200 day simple moving average is $163.72. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The firm has a market cap of $36.31 billion, a PE ratio of 8.91 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter last year, the firm earned $5.81 EPS. Nucor’s revenue for the quarter was down 15.2% compared to the same quarter last year. On average, analysts predict that Nucor Co. will post 9.28 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio is presently 12.71%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NUE. Bank of America dropped their price target on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Morgan Stanley dropped their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and upped their price target for the company from $170.00 to $174.00 in a report on Monday, September 9th. Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, BMO Capital Markets cut their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and an average target price of $192.00.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 directly owns 99,049 shares in the company, valued at $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by insiders.

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.