Rosenberg Matthew Hamilton Sells 371 Shares of Nucor Corporation $NUE

Rosenberg Matthew Hamilton trimmed its position in Nucor Corporation (NYSE:NUE) by 16.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,942 shares of the basic materials company’s stock after selling 371 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Nucor were worth $252,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. RFG Advisory LLC increased its position in shares of Nucor by 2.9% during the second quarter. RFG Advisory LLC now owns 2,462 shares of the basic materials company’s stock worth $319,000 after purchasing an additional 69 shares in the last quarter. Matrix Trust Co increased its position in shares of Nucor by 53.8% during the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 84 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in shares of Nucor by 2.2% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,247 shares of the basic materials company’s stock worth $511,000 after purchasing an additional 93 shares in the last quarter. Denali Advisors LLC increased its position in shares of Nucor by 2.5% during the first quarter. Denali Advisors LLC now owns 4,117 shares of the basic materials company’s stock worth $495,000 after purchasing an additional 102 shares in the last quarter. Finally, Horizon Advisory Services Inc. increased its position in shares of Nucor by 6.1% during the first quarter. Horizon Advisory Services Inc. now owns 1,962 shares of the basic materials company’s stock worth $236,000 after purchasing an additional 112 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $144.90, for a total transaction of $1,449,000.00. Following the sale, the executive vice president directly owned 84,080 shares of the company’s stock, valued at approximately $12,183,192. This trade represents a 10.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel R. Needham sold 7,200 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $146.00, for a total value of $1,051,200.00. Following the sale, the executive vice president directly owned 92,179 shares in the company, valued at $13,458,134. This represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,309 shares of company stock valued at $4,553,771 over the last quarter. 0.46% of the stock is currently owned by company insiders.

Nucor Price Performance

Shares of NUE opened at $136.72 on Thursday. The business’s 50-day moving average is $141.18 and its two-hundred day moving average is $129.55. The company has a market capitalization of $31.38 billion, a P/E ratio of 24.68, a P/E/G ratio of 0.97 and a beta of 1.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.06. The company 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%.The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $2.68 EPS. Research analysts predict that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s dividend payout ratio (DPR) is currently 39.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NUE shares. Morgan Stanley upped their price target on Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a research report on Wednesday, October 8th. Wells Fargo & Company cut their target price on Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 18th. JPMorgan Chase & Co. upped their target price on Nucor from $165.00 to $172.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Bank of America upped their target price on Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, September 15th. 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $157.60.

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.