Callan Capital LLC Takes Position in Nucor Co. (NYSE:NUE)

Callan Capital LLC purchased a new stake in shares of Nucor Co. (NYSE:NUE) during the second quarter, Holdings Channel reports. The institutional investor purchased 2,966 shares of the basic materials company’s stock, valued at approximately $469,000.

Several other large investors have also recently bought and sold shares of the business. CX Institutional increased its holdings in shares of Nucor by 52.8% in the 2nd quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock valued at $2,726,000 after purchasing an additional 5,960 shares during the period. Newbridge Financial Services Group Inc. lifted its position in Nucor by 94.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,855 shares of the basic materials company’s stock worth $323,000 after buying an additional 900 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Nucor by 6.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 262,385 shares of the basic materials company’s stock valued at $45,665,000 after buying an additional 15,058 shares during the period. Norden Group LLC purchased a new position in shares of Nucor during the 1st quarter valued at $1,847,000. Finally, Banco Santander S.A. grew 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 valued at $2,552,000 after acquiring an additional 5,971 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is owned by insiders.

Nucor Stock Down 1.8 %

Shares of NUE stock opened at $146.31 on Friday. The company has a market capitalization of $35.08 billion, a price-to-earnings ratio of 8.61 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. The stock’s 50 day simple moving average is $149.66 and its 200 day simple moving average is $166.15. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share 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 net margin of 10.45% and a return on equity of 15.69%. Nucor’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $5.81 earnings per share. As a group, research analysts predict that Nucor Co. will post 9.95 EPS for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.48%. Nucor’s payout ratio is presently 12.71%.

Analyst Ratings Changes

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

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.