Boys Arnold & Co. Inc. Has $993,000 Stake in Nucor Co. (NUE)
Boys Arnold & Co. Inc. raised its position in shares of Nucor Co. (NYSE:NUE) by 84.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 16,629 shares of the basic materials company’s stock after buying an additional 7,629 shares during the period. Boys Arnold & Co. Inc.’s holdings in Nucor were worth $993,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of NUE. KCM Investment Advisors LLC boosted its stake in Nucor by 0.5% in the third quarter. KCM Investment Advisors LLC now owns 5,205 shares of the basic materials company’s stock worth $257,000 after buying an additional 27 shares during the period. Hartford Financial Management Inc. boosted its stake in Nucor by 2.0% in the third quarter. Hartford Financial Management Inc. now owns 3,585 shares of the basic materials company’s stock worth $177,000 after buying an additional 69 shares during the period. TCI Wealth Advisors Inc. boosted its stake in Nucor by 3.5% in the third quarter. TCI Wealth Advisors Inc. now owns 2,070 shares of the basic materials company’s stock worth $102,000 after buying an additional 70 shares during the period. Bank of The West boosted its stake in Nucor by 1.9% in the first quarter. Bank of The West now owns 4,403 shares of the basic materials company’s stock worth $263,000 after buying an additional 83 shares during the period. Finally, Honkamp Krueger Financial Services Inc. boosted its stake in Nucor by 0.6% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 15,606 shares of the basic materials company’s stock worth $932,000 after buying an additional 92 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.
Shares of Nucor Co. (NYSE:NUE) traded up 5.1893% on Thursday, hitting $60.6101. The company had a trading volume of 4,575,227 shares. Nucor Co. has a 1-year low of $44.81 and a 1-year high of $68.00. The firm has a market capitalization of $19.33 billion, a price-to-earnings ratio of 24.4199 and a beta of 1.45. The company has a 50 day moving average price of $60.76 and a 200 day moving average price of $58.53.
Nucor (NYSE:NUE) last announced its quarterly earnings data on Thursday, April 20th. The basic materials company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.67 billion. Nucor had a return on equity of 9.32% and a net margin of 4.53%. The company’s revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 EPS. On average, equities analysts forecast that Nucor Co. will post $3.93 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 11th. Stockholders of record on Friday, March 31st will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $1.51 annualized dividend and a dividend yield of 2.62%. Nucor’s dividend payout ratio (DPR) is presently 65.94%.
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Several research analysts have weighed in on the company. BMO Capital Markets reiterated a “hold” rating and set a $68.00 price objective on shares of Nucor in a research report on Monday, April 3rd. Jefferies Group LLC reiterated a “buy” rating on shares of Nucor in a research report on Wednesday. Zacks Investment Research cut Nucor from a “buy” rating to a “hold” rating in a research report on Monday, April 10th. Vetr upgraded Nucor from a “hold” rating to a “buy” rating and set a $65.50 price objective on the stock in a research report on Wednesday, January 11th. Finally, Berenberg Bank cut Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, January 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $65.91.
In related news, CFO James D. Frias sold 52,631 shares of the stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $62.57, for a total transaction of $3,293,121.67. Following the completion of the sale, the chief financial officer now directly owns 174,037 shares in the company, valued at approximately $10,889,495.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Raymond S. Napolitan, Jr. sold 12,400 shares of the stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $63.74, for a total value of $790,376.00. Following the sale, the insider now owns 73,885 shares of the company’s stock, valued at $4,709,429.90. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by corporate insiders.
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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