Insight Folios Inc lifted its position in Nucor Co. (NYSE:NUE) by 20.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,194 shares of the basic materials company’s stock after buying an additional 12,197 shares during the period. Nucor makes up about 3.0% of Insight Folios Inc’s investment portfolio, making the stock its 15th biggest position. Insight Folios Inc’s holdings in Nucor were worth $3,239,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Manchester Financial Inc. purchased a new position in shares of Nucor in the 2nd quarter worth $27,000. Berman Capital Advisors LLC lifted its position in Nucor by 72.6% during the second quarter. Berman Capital Advisors LLC now owns 706 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 297 shares in the last quarter. Ameritas Investment Company LLC lifted its position in Nucor by 104.2% during the first quarter. Ameritas Investment Company LLC now owns 782 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 399 shares in the last quarter. Nachman Norwood & Parrott Inc bought a new position in Nucor in the 3rd quarter worth approximately $39,000. Finally, Marshall Wace North America L.P. purchased a new stake in Nucor during the 1st quarter valued at approximately $54,000. Hedge funds and other institutional investors own 74.61% of the company’s stock.
A number of research analysts recently weighed in on the stock. Exane BNP Paribas lowered shares of Nucor from an “outperform” rating to a “neutral” rating and set a $48.00 target price for the company. in a report on Thursday. UBS Group raised their target price on shares of Nucor from $39.00 to $48.00 in a report on Friday, October 2nd. BMO Capital Markets lifted their price objective on shares of Nucor from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Friday, September 18th. BNP Paribas lowered shares of Nucor from an “outperform” rating to a “neutral” rating and set a $48.00 price objective for the company. in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Nucor from $42.00 to $46.00 and gave the stock a “hold” rating in a research note on Thursday, October 1st. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $48.36.
NUE traded up $0.07 on Friday, hitting $49.33. The company had a trading volume of 1,366,084 shares, compared to its average volume of 2,433,375. The stock has a fifty day moving average price of $46.82 and a 200-day moving average price of $42.64. Nucor Co. has a 12-month low of $27.52 and a 12-month high of $58.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.68 and a current ratio of 4.39. The stock has a market capitalization of $14.89 billion, a price-to-earnings ratio of 29.36, a P/E/G ratio of 1.62 and a beta of 1.40.
Nucor (NYSE:NUE) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.22. Nucor had a return on equity of 7.95% and a net margin of 2.49%. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was down 26.6% compared to the same quarter last year. Analysts forecast that Nucor Co. will post 2.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Wednesday, September 30th will be issued a $0.4025 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 3.26%. Nucor’s dividend payout ratio is currently 37.35%.
Nucor Company Profile
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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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