Nilsine Partners LLC Boosts Stake in Nucor Co. (NYSE:NUE)

Nilsine Partners LLC grew its stake in Nucor Co. (NYSE:NUE) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,307 shares of the basic materials company’s stock after buying an additional 65 shares during the period. Nilsine Partners LLC’s holdings in Nucor were worth $259,000 at the end of the most recent quarter.

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

Nucor Stock Performance

NUE stock traded down $6.71 during midday trading on Tuesday, hitting $168.53. 2,177,055 shares of the stock traded hands, compared to its average volume of 1,447,176. The firm has a market cap of $40.44 billion, a P/E ratio of 9.91 and a beta of 1.61. 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’s fifty day simple moving average is $190.11 and its 200-day simple moving average is $174.94. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.62 by ($0.16). The firm had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.45 EPS. On average, analysts expect that Nucor Co. will post 12.5 earnings per share for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be given a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.28%. Nucor’s dividend payout ratio (DPR) is 12.71%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. JPMorgan Chase & Co. reduced their target price on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. UBS Group assumed coverage on shares of Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price for the company. Finally, BMO Capital Markets reduced their target price on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $193.14.

Insider Activity

In other news, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the sale, the executive vice president now owns 85,326 shares in the company, valued at $15,902,206.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Allen C. Behr sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the transaction, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at $15,386,751.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kenneth Rex Query sold 5,500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the transaction, the executive vice president now directly owns 85,326 shares in the company, valued at $15,902,206.62. The disclosure for this sale can be found here. Insiders have sold a total of 38,151 shares of company stock worth $7,308,683 over the last 90 days. 0.64% of the stock is currently owned by company insiders.

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.