Moors & Cabot Inc. buy 603 shares of Nucor Co. (NYSE:NUE)

VaselineSeptember 20, 2024

0 4 minutes read

Moors & Cabot Inc. increased its holdings in Nucor Co shares. (NYSE:NUE – Free Report ) by 20.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,576 shares of the basic materials company’s stock after acquiring an additional 603 shares during the quarter. Moors & Cabot Inc. holdings. holdings in Nucor were worth $565,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. McClarren Financial Advisors Inc. boosted its holdings in Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 89 shares during the period. Rise Advisors LLC bought a new stake in Nucor in the 1st quarter worth $27,000. Chilton Capital Management LLC grew its holdings in Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 65 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of Nucor in the first quarter valued at $28,000. Finally, Tompkins Financial Corp boosted its stake in Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares during the period. 76.48% of shares are currently owned by institutional investors.

Insider trading at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Company insiders own 0.46% of the company’s shares.

Nucor price performance

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Shares of Nucor stock opened at $148.98 on Friday. Nucor Co. it has a 52-week low of $133.42 and a 52-week high of $203.00. The company has a 50-day simple moving average of $149.95 and a 200-day simple moving average of $166.43. The company has a quick ratio of 1.85, a current ratio of 2.93, and a debt-to-equity ratio of 0.26. The stock has a market cap of $35.72 billion, a price-to-earnings ratio of 8.76 and a beta of 1.55.

Nucor (NYSE:NUE – Get Your Free Report ) last posted its earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. In the same period last year, the company earned $5.81 per share. The company’s revenue fell 15.2% year over year. On average, research analysts forecast that Nucor Co. will post 9.95 earnings per share for the current fiscal year.

Nucor announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a $0.54 dividend. This represents a dividend of $2.16 on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, September 27. Nucor’s payout ratio is currently 12.71%.

The Wall Street analyst weighs in

NUE has been the subject of several research reports. BMO Capital Markets cut their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $170.00 to $174.00 in a research note on Monday, September 9th. Bank of America cut their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Morgan Stanley cut their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Nucor presently has a consensus rating of “Moderate Buy” and an average price target of $192.00, according to MarketBeat .

Check out our latest research report on Nucor

Nucor profile

(Free report)

Nucor Corporation is engaged in the 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; sheet steel products; wide flange beams, beam blanks and structural steel products for H-piles and sheet piles; steel bar products such as blooms, billets, concrete rebars and commercial bars and special quality bar products; and engages in steel trading and rebar distribution.