Gallacher Capital Management LLC Has $296,000 Stock Holdings in Nucor Co. (NYSE:NUE)

Gallacher Capital Management LLC lessened its position in shares of Nucor Co. (NYSE:NUE) by 12.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,496 shares of the basic materials company’s stock after selling 211 shares during the quarter. Gallacher Capital Management LLC’s holdings in Nucor were worth $296,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Nucor in the first quarter worth about $27,000. Central Pacific Bank Trust Division bought a new stake in shares of Nucor in the first quarter worth about $28,000. Criterion Capital Advisors LLC bought a new stake in shares of Nucor in the fourth quarter worth about $25,000. Tompkins Financial Corp increased its holdings in shares of Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 104 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in shares of Nucor in the first quarter worth about $31,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NUE shares. Bank of America lowered their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Jefferies Financial Group assumed coverage on Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective for the company. BMO Capital Markets decreased their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday, June 17th. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a report on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $192.71.

Nucor Stock Up 1.4 %

NUE stock traded up $2.19 during mid-day trading on Friday, reaching $161.15. The company had a trading volume of 472,028 shares, compared to its average volume of 1,457,654. 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 stock has a 50 day simple moving average of $162.90 and a two-hundred day simple moving average of $176.57. The company has a market capitalization of $38.64 billion, a price-to-earnings ratio of 9.35 and a beta of 1.57. Nucor Co. has a 52 week low of $140.07 and a 52 week high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The company had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.45 earnings per share. As a group, equities analysts predict that Nucor Co. will post 10.84 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be given a $0.54 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.34%. Nucor’s payout ratio is 12.71%.

Nucor 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.