Assetmark Inc. Has $76.01 Million Holdings in Nucor Co. (NYSE:NUE)

Assetmark Inc. lifted its stake in Nucor Co. (NYSE:NUE - Free Report) by 54.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 492,070 shares of the basic materials company's stock after acquiring an additional 173,502 shares during the period. Assetmark Inc. owned approximately 0.20% of Nucor worth $76,010,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fairfield Bush & CO. bought a new position in Nucor during the first quarter valued at about $48,000. Synovus Financial Corp increased its position in shares of Nucor by 150.6% during the first quarter. Synovus Financial Corp now owns 7,198 shares of the basic materials company's stock valued at $1,067,000 after purchasing an additional 4,326 shares during the period. Sei Investments Co. raised its stake in shares of Nucor by 106.2% in the first quarter. Sei Investments Co. now owns 35,889 shares of the basic materials company's stock valued at $5,328,000 after purchasing an additional 18,488 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Nucor in the first quarter worth $284,000. Finally, Brighton Jones LLC acquired a new stake in Nucor during the first quarter worth $222,000. Institutional investors own 79.53% of the company's stock.

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Nucor from $130.00 to $145.00 in a research note on Friday, July 14th. Credit Suisse Group raised their price target on shares of Nucor from $156.00 to $167.00 in a research note on Tuesday, July 11th. Wolfe Research upgraded Nucor from an "underperform" rating to a "peer perform" rating in a research note on Thursday, June 1st. BNP Paribas raised Nucor from a "neutral" rating to an "outperform" rating and set a $191.00 price target on the stock in a research note on Wednesday, July 5th. Finally, Citigroup boosted their price target on shares of Nucor from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Nucor has a consensus rating of "Hold" and a consensus target price of $160.33.

Check Out Our Latest Analysis on NUE

In related news, CFO Stephen D. Laxton sold 12,765 shares of the business's stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $171.46, for a total transaction of $2,188,686.90. Following the completion of the sale, the chief financial officer now directly owns 62,444 shares of the company's stock, valued at $10,706,648.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Allen C. Behr sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $170.54, for a total transaction of $1,705,400.00. Following the completion of the transaction, the executive vice president now directly owns 84,273 shares in the company, valued at approximately $14,371,917.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen D. Laxton sold 12,765 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $171.46, for a total transaction of $2,188,686.90. Following the completion of the sale, the chief financial officer now owns 62,444 shares in the company, valued at $10,706,648.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,124 shares of company stock worth $8,495,597. Company insiders own 0.46% of the company's stock.

Shares of NUE traded up $0.28 during mid-day trading on Friday, hitting $172.06. 292,388 shares of the company traded hands, compared to its average volume of 1,669,887. The company has a current ratio of 3.82, a quick ratio of 2.41 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $43.22 billion, a price-to-earnings ratio of 7.93 and a beta of 1.60. The business has a 50-day moving average of $157.55 and a 200 day moving average of $155.46. Nucor Co. has a one year low of $102.86 and a one year high of $182.68.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, July 24th. The basic materials company reported $5.81 EPS for the quarter, beating analysts' consensus estimates of $5.59 by $0.22. The firm had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.62 billion. Nucor had a return on equity of 28.00% and a net margin of 14.81%. The business's quarterly revenue was down 19.3% compared to the same quarter last year. During the same period last year, the company earned $9.67 EPS. As a group, equities analysts expect that Nucor Co. will post 18.82 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $2.04 annualized dividend and a yield of 1.19%. Nucor's dividend payout ratio is currently 9.42%.

Nucor announced that its board has authorized a stock buyback program on Thursday, May 11th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the basic materials company to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Nucor Corporation engages in manufacture and sale of steel and steel products. The company's 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; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products.

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