Buckingham Strategic Partners purchased a new position in Nucor Co. (NYSE:NUE – Get Rating) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,154 shares of the basic materials company’s stock, valued at approximately $320,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of NUE. Envestnet Asset Management Inc. boosted its holdings in Nucor by 2.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 422,524 shares of the basic materials company’s stock worth $48,231,000 after acquiring an additional 10,692 shares during the period. Modera Wealth Management LLC purchased a new position in Nucor in the 4th quarter worth approximately $607,000. Ameritas Advisory Services LLC purchased a new position in Nucor in the 4th quarter worth approximately $442,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Nucor by 3.8% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 193,230 shares of the basic materials company’s stock worth $21,843,000 after acquiring an additional 7,085 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Nucor by 33.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,500 shares of the basic materials company’s stock worth $1,080,000 after acquiring an additional 2,400 shares during the period. Hedge funds and other institutional investors own 77.70% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on NUE. BMO Capital Markets reduced their target price on Nucor from $168.00 to $128.00 in a research note on Tuesday, May 17th. JPMorgan Chase & Co. reduced their target price on Nucor from $146.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, June 14th. Argus increased their target price on Nucor from $140.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, April 25th. Credit Suisse Group increased their target price on Nucor from $142.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, April 22nd. Finally, The Goldman Sachs Group reduced their target price on Nucor from $148.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, May 31st. One 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $133.18.
Nucor Price Performance
Shares of NYSE NUE opened at $142.65 on Wednesday. Nucor Co. has a 1-year low of $88.50 and a 1-year high of $187.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.62 and a quick ratio of 1.39. The business’s fifty day moving average price is $119.85 and its two-hundred day moving average price is $130.86. The firm has a market capitalization of $37.34 billion, a PE ratio of 4.38 and a beta of 1.40.
Nucor (NYSE:NUE – Get Rating) last issued its earnings results on Thursday, July 21st. The basic materials company reported $9.67 earnings per share for the quarter, topping the consensus estimate of $8.91 by $0.76. Nucor had a return on equity of 57.78% and a net margin of 21.03%. The firm had revenue of $11.79 billion for the quarter, compared to analyst estimates of $11.59 billion. During the same period last year, the company earned $5.04 earnings per share. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, research analysts expect that Nucor Co. will post 3.45 EPS for the current year.
Nucor Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Thursday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Wednesday, June 29th. Nucor’s dividend payout ratio (DPR) is 6.14%.
Nucor Company Profile
Nucor Corporation manufactures and sells 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 special bar quality products.
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