WealthPLAN Partners LLC boosted its position in Nucor Co. (NYSE:NUE) by 26.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,277 shares of the basic materials company’s stock after acquiring an additional 11,248 shares during the quarter. WealthPLAN Partners LLC’s holdings in Nucor were worth $3,315,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of NUE. Luminus Management LLC boosted its holdings in Nucor by 303.4% in the fourth quarter. Luminus Management LLC now owns 1,654,324 shares of the basic materials company’s stock valued at $105,182,000 after acquiring an additional 1,244,185 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Nucor during the first quarter worth about $46,992,000. BlackRock Inc. lifted its stake in shares of Nucor by 3.2% during the fourth quarter. BlackRock Inc. now owns 22,382,353 shares of the basic materials company’s stock worth $1,423,070,000 after purchasing an additional 702,355 shares in the last quarter. Element Capital Management LLC acquired a new position in shares of Nucor during the fourth quarter worth about $22,654,000. Finally, W. E. Donoghue & Co. LLC acquired a new position in shares of Nucor during the fourth quarter worth about $18,578,000. Hedge funds and other institutional investors own 78.62% of the company’s stock.
A number of research analysts have commented on NUE shares. ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research cut Nucor from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Goldman Sachs Group began coverage on Nucor in a research note on Tuesday, March 20th. They issued a “buy” rating and a $78.00 price target on the stock. Morgan Stanley boosted their price target on Nucor from $68.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 17th. Finally, UBS Group began coverage on Nucor in a research note on Tuesday, April 17th. They issued a “neutral” rating and a $65.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $70.40.
Nucor traded up $0.93, hitting $67.70, during midday trading on Thursday, MarketBeat reports. The stock had a trading volume of 77,369 shares, compared to its average volume of 2,679,798. The company has a quick ratio of 1.18, a current ratio of 2.49 and a debt-to-equity ratio of 0.35. The firm has a market cap of $21.34 billion, a P/E ratio of 19.12, a P/E/G ratio of 0.94 and a beta of 1.55. Nucor Co. has a 12 month low of $51.67 and a 12 month high of $70.48.
Nucor (NYSE:NUE) last announced its quarterly earnings data on Thursday, April 19th. The basic materials company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.07. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.50 billion. Nucor had a return on equity of 12.94% and a net margin of 6.33%. Nucor’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 earnings per share. equities research analysts anticipate that Nucor Co. will post 5.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 10th. Stockholders of record on Friday, June 29th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, June 28th. Nucor’s dividend payout ratio (DPR) is presently 43.30%.
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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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