Janney Montgomery Scott LLC Sells 5,821 Shares of Nucor Corporation $NUE

Janney Montgomery Scott LLC reduced its stake in Nucor Corporation (NYSE:NUE) by 4.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,715 shares of the basic materials company’s stock after selling 5,821 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Nucor were worth $19,060,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NUE. Stance Capital LLC bought a new position in Nucor during the 3rd quarter worth approximately $25,000. Strive Financial Group LLC bought a new stake in shares of Nucor in the 4th quarter valued at $27,000. Motiv8 Investments LLC bought a new stake in shares of Nucor in the 4th quarter valued at $32,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Nucor during the fourth quarter worth $32,000. Finally, Reflection Asset Management acquired a new stake in shares of Nucor during the fourth quarter worth $36,000. 76.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Argus increased their price target on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Citigroup boosted their price objective on Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. KeyCorp upgraded Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 target price on the stock in a research report on Wednesday, June 24th. Finally, Bank of America raised their target price on Nucor from $265.00 to $290.00 in a research note on Friday, June 12th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.92.

Nucor Trading Down 2.6%

NYSE:NUE opened at $222.72 on Wednesday. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $50.72 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 0.54 and a beta of 1.88. The firm has a fifty day simple moving average of $237.13 and a two-hundred day simple moving average of $195.96. Nucor Corporation has a 12 month low of $128.46 and a 12 month high of $270.90.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. Analysts expect that Nucor Corporation will post 17 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s payout ratio is presently 22.18%.

Insider Buying and Selling at Nucor

In other Nucor news, EVP David A. Sumoski sold 33,068 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $225.67, for a total value of $7,462,455.56. Following the completion of the sale, the executive vice president owned 243,339 shares of the company’s stock, valued at approximately $54,914,312.13. This trade represents a 11.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the sale, the executive vice president owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 82,378 shares of company stock worth $18,963,930 in the last quarter. Company insiders own 0.62% of the company’s stock.

About Nucor

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value?added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.