Hudson Capital Management LLC Has $4.51 Million Stock Position in Nucor Corporation $NUE

Hudson Capital Management LLC boosted its position in shares of Nucor Corporation (NYSE:NUE) by 6.6% in the second quarter, Holdings Channel.com reports. The firm owned 34,784 shares of the basic materials company’s stock after purchasing an additional 2,154 shares during the period. Hudson Capital Management LLC’s holdings in Nucor were worth $4,506,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Nucor by 17.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company’s stock worth $3,853,000 after buying an additional 4,763 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Nucor by 21.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company’s stock worth $12,210,000 after buying an additional 17,861 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Nucor by 20.5% in the first quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company’s stock worth $3,476,000 after buying an additional 4,914 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Nucor by 138.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 121,543 shares of the basic materials company’s stock worth $15,745,000 after buying an additional 70,581 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Nucor by 12.4% in the first quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company’s stock worth $36,704,000 after buying an additional 33,700 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analysts Set New Price Targets

NUE has been the subject of a number of analyst reports. Bank of America boosted their price target on Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Morgan Stanley lifted their price objective on Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Jefferies Financial Group upgraded Nucor from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. Wells Fargo & Company dropped their price objective on Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 18th. Finally, The Goldman Sachs Group dropped their price objective on Nucor from $182.00 to $173.00 and set a “buy” rating on the stock in a research note on Monday, September 22nd. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.60.

Nucor Stock Up 2.4%

NYSE NUE opened at $136.82 on Tuesday. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $141.24 and its two-hundred day moving average is $129.44. The company has a market capitalization of $31.41 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 0.92 and a beta of 1.75. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $170.52.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.54 by $0.06. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.Nucor’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.68 EPS. Equities analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s payout ratio is presently 39.71%.

Insiders Place Their Bets

In other news, EVP Allen C. Behr sold 8,021 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total value of $1,150,050.98. Following the transaction, the executive vice president directly owned 82,703 shares of the company’s stock, valued at $11,857,956.14. The trade was a 8.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the transaction, the executive vice president directly owned 84,080 shares in the company, valued at $12,183,192. The trade was a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,309 shares of company stock valued at $4,553,771 over the last quarter. 0.71% of the stock is owned by insiders.

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.