Nucor Co. (NYSE:NUE) Shares Bought by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lifted its stake in shares of Nucor Co. (NYSE:NUE) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,862 shares of the basic materials company’s stock after buying an additional 964 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Nucor were worth $4,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Criterion Capital Advisors LLC acquired a new position in Nucor during the 4th quarter worth $25,000. Rise Advisors LLC acquired a new position in Nucor in the first quarter worth about $27,000. Tompkins Financial Corp increased its holdings 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 buying an additional 104 shares during the last quarter. Fortitude Family Office LLC raised its stake in Nucor by 54.1% during the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after buying an additional 59 shares in the last quarter. Finally, Valley National Advisers Inc. raised its position in shares of Nucor by 716.7% during the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 172 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

NUE stock traded up $3.90 on Friday, reaching $158.08. The company’s stock had a trading volume of 3,418,700 shares, compared to its average volume of 1,473,852. Nucor Co. has a 52 week low of $140.07 and a 52 week high of $203.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48. The company has a market capitalization of $37.90 billion, a P/E ratio of 9.30 and a beta of 1.60. The firm has a fifty day moving average of $166.46 and a two-hundred day moving average of $177.69.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). The business had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.45 EPS. As a group, analysts predict that Nucor Co. will post 10.78 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, June 28th. Nucor’s dividend payout ratio is currently 12.71%.

Wall Street Analyst Weigh In

A number of research firms have commented on NUE. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Bank of America lowered their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 11th. BMO Capital Markets decreased their target price on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research note on Monday, June 17th. Finally, Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $189.67.

About Nucor

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.