Wilsey Asset Management Inc. Has $11.66 Million Position in Nucor Co. (NYSE:NUE)

Wilsey Asset Management Inc. raised its holdings in Nucor Co. (NYSE:NUE) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 227,735 shares of the basic materials company’s stock after buying an additional 17,463 shares during the period. Nucor accounts for about 4.6% of Wilsey Asset Management Inc.’s portfolio, making the stock its 12th largest holding. Wilsey Asset Management Inc.’s holdings in Nucor were worth $11,655,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Belpointe Asset Management LLC acquired a new stake in Nucor in the 1st quarter valued at $144,000. Hills Bank & Trust Co. increased its stake in Nucor by 1.2% in the 2nd quarter. Hills Bank & Trust Co. now owns 20,045 shares of the basic materials company’s stock valued at $1,104,000 after buying an additional 247 shares during the last quarter. Cibc World Markets Corp increased its stake in Nucor by 228.6% in the 2nd quarter. Cibc World Markets Corp now owns 393,707 shares of the basic materials company’s stock valued at $21,693,000 after buying an additional 273,888 shares during the last quarter. Empowered Funds LLC acquired a new stake in Nucor in the 2nd quarter valued at $2,396,000. Finally, AGF Investments LLC acquired a new stake in Nucor in the 2nd quarter valued at $989,000. Hedge funds and other institutional investors own 77.36% of the company’s stock.

In related news, insider Ladd R. Hall sold 28,998 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $56.90, for a total value of $1,649,986.20. Following the transaction, the insider now owns 292,776 shares in the company, valued at approximately $16,658,954.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Leon J. Topalian sold 5,798 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $56.47, for a total transaction of $327,413.06. Following the completion of the transaction, the executive vice president now owns 93,559 shares in the company, valued at approximately $5,283,276.73. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,203 shares of company stock worth $3,465,601. 0.96% of the stock is owned by company insiders.

Several equities research analysts have issued reports on NUE shares. ValuEngine upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. KeyCorp lowered their price objective on shares of Nucor from $61.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Bank of America lowered their price objective on shares of Nucor from $50.00 to $46.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 4th. Finally, Credit Suisse Group set a $61.00 price objective on shares of Nucor and gave the stock a “buy” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $59.63.

Shares of Nucor stock traded down $1.16 during trading on Wednesday, hitting $51.65. 97,609 shares of the stock were exchanged, compared to its average volume of 2,382,573. The stock has a market capitalization of $15.97 billion, a price-to-earnings ratio of 6.78, a price-to-earnings-growth ratio of 0.98 and a beta of 1.63. The company has a fifty day moving average price of $50.76 and a 200-day moving average price of $53.38. Nucor Co. has a 1-year low of $46.10 and a 1-year high of $64.48. The company has a current ratio of 3.56, a quick ratio of 1.76 and a debt-to-equity ratio of 0.40.

Nucor (NYSE:NUE) last released its quarterly earnings data on Thursday, July 18th. The basic materials company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. Nucor had a net margin of 8.84% and a return on equity of 21.65%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6 billion. During the same period in the previous year, the business earned $2.07 EPS. Nucor’s revenue for the quarter was down 8.7% compared to the same quarter last year. Equities research analysts forecast that Nucor Co. will post 4.45 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.40 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.60 dividend on an annualized basis and a yield of 3.10%. Nucor’s dividend payout ratio (DPR) is currently 21.00%.

Nucor Profile

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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