M&T Bank Corp Reduces Stock Position in Nucor Co. (NYSE:NUE)

M&T Bank Corp lowered its position in shares of Nucor Co. (NYSE:NUEGet Rating) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 100,650 shares of the basic materials company’s stock after selling 2,228 shares during the quarter. M&T Bank Corp’s holdings in Nucor were worth $14,961,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of NUE. Westside Investment Management Inc. acquired a new position in Nucor in the fourth quarter valued at $25,000. Rational Advisors LLC acquired a new stake in shares of Nucor in the fourth quarter worth approximately $28,000. Riverview Trust Co purchased a new stake in Nucor in the first quarter valued at approximately $28,000. Nvwm LLC increased its position in Nucor by 312.7% during the fourth quarter. Nvwm LLC now owns 260 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 197 shares during the last quarter. Finally, Capital Advisory Group Advisory Services LLC purchased a new position in Nucor during the first quarter worth approximately $30,000. 77.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NUE. Morgan Stanley dropped their price objective on Nucor from $121.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, July 25th. Credit Suisse Group raised their price objective on Nucor from $142.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, April 22nd. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. BMO Capital Markets dropped their target price on shares of Nucor from $168.00 to $128.00 in a research report on Tuesday, May 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Nucor from $146.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $133.18.

Nucor Price Performance

NUE opened at $136.64 on Friday. Nucor Co. has a twelve month low of $88.50 and a twelve month high of $187.90. The company has a current ratio of 2.62, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The firm has a market cap of $36.35 billion, a price-to-earnings ratio of 4.19 and a beta of 1.40. The company has a fifty day simple moving average of $118.80 and a 200 day simple moving average of $128.58.

Nucor (NYSE:NUEGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The basic materials company reported $9.67 earnings per share for the quarter, topping the consensus estimate of $8.91 by $0.76. Nucor had a net margin of 21.03% and a return on equity of 57.78%. The company had revenue of $11.79 billion during the quarter, compared to analyst estimates of $11.59 billion. During the same period last year, the business earned $5.04 EPS. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. Equities research analysts expect that Nucor Co. will post 31.44 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Thursday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.46%. Nucor’s dividend payout ratio (DPR) is presently 6.14%.

Insider Activity at Nucor

In other Nucor news, EVP Allen C. Behr sold 3,407 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $122.17, for a total value of $416,233.19. Following the completion of the sale, the executive vice president now directly owns 64,087 shares in the company, valued at $7,829,508.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Allen C. Behr sold 3,407 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $122.17, for a total transaction of $416,233.19. Following the sale, the executive vice president now owns 64,087 shares in the company, valued at $7,829,508.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Leon J. Topalian sold 48,768 shares of the stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $112.61, for a total value of $5,491,764.48. Following the completion of the sale, the chief executive officer now directly owns 135,809 shares of the company’s stock, valued at $15,293,451.49. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

Nucor Company Profile

(Get Rating)

Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

Read More

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUEGet Rating).

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.