Winch Advisory Services LLC raised its holdings in shares of Nucor Co. (NYSE:NUE) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,709 shares of the basic materials company’s stock after purchasing an additional 295 shares during the period. Winch Advisory Services LLC’s holdings in Nucor were worth $370,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. First Trust Advisors LP increased its position in shares of Nucor by 173.1% in the 1st quarter. First Trust Advisors LP now owns 1,084,759 shares of the basic materials company’s stock valued at $63,296,000 after acquiring an additional 687,564 shares during the period. Geode Capital Management LLC increased its position in shares of Nucor by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock valued at $258,607,000 after acquiring an additional 506,988 shares during the period. Capital Wealth Planning LLC boosted its holdings in Nucor by 4,741.0% in the second quarter. Capital Wealth Planning LLC now owns 393,570 shares of the basic materials company’s stock valued at $21,686,000 after purchasing an additional 385,440 shares during the last quarter. FMR LLC boosted its holdings in Nucor by 123.0% in the first quarter. FMR LLC now owns 674,154 shares of the basic materials company’s stock valued at $39,337,000 after purchasing an additional 371,876 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Nucor by 366.0% in the first quarter. SG Americas Securities LLC now owns 429,342 shares of the basic materials company’s stock valued at $25,052,000 after purchasing an additional 337,214 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on NUE. Citigroup set a $60.00 price target on shares of Nucor and gave the company a “buy” rating in a report on Tuesday, June 11th. Deutsche Bank lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. UBS Group set a $59.00 price target on shares of Nucor and gave the company a “hold” rating in a report on Wednesday, May 8th. Goldman Sachs Group lowered their price target on shares of Nucor from $70.00 to $59.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Finally, Credit Suisse Group set a $61.00 price target on shares of Nucor and gave the company a “buy” rating in a report on Friday, July 19th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $62.90.
Shares of NUE stock traded down $1.98 during mid-day trading on Friday, hitting $46.95. 1,610,432 shares of the stock were exchanged, compared to its average volume of 1,865,940. The firm has a fifty day moving average of $53.13 and a 200 day moving average of $55.70. The company has a quick ratio of 1.76, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. Nucor Co. has a 52-week low of $46.76 and a 52-week high of $66.03. The company has a market cap of $14.83 billion, a PE ratio of 6.16, a price-to-earnings-growth ratio of 0.83 and a beta of 1.61.
Nucor (NYSE:NUE) last posted its earnings results on Thursday, July 18th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. Nucor had a net margin of 8.84% and a return on equity of 21.65%. The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6 billion. During the same period in the prior year, the company posted $2.07 EPS. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. Equities analysts predict that Nucor Co. will post 4.86 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, June 28th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Thursday, June 27th. Nucor’s payout ratio is currently 21.00%.
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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