ORG Partners LLC Purchases 1,521 Shares of Nucor Co. (NYSE:NUE)

ORG Partners LLC grew its position in Nucor Co. (NYSE:NUE) by 513.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,817 shares of the basic materials company’s stock after buying an additional 1,521 shares during the period. ORG Partners LLC’s holdings in Nucor were worth $286,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NUE. Norges Bank bought a new stake in shares of Nucor in the 4th quarter valued at about $377,631,000. Global Assets Advisory LLC bought a new stake in shares of Nucor in the 1st quarter valued at about $90,216,000. Swedbank AB bought a new stake in shares of Nucor in the 1st quarter valued at about $37,395,000. Captrust Financial Advisors boosted its holdings in shares of Nucor by 23.5% in the 1st quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after buying an additional 153,077 shares in the last quarter. Finally, Trinity Street Asset Management LLP bought a new stake in shares of Nucor in the 2nd quarter valued at about $19,213,000. 76.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NUE has been the subject of a number of recent analyst reports. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. BMO Capital Markets lowered their target price on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research note on Monday, June 17th. JPMorgan Chase & Co. lowered their target price on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. Jefferies Financial Group initiated coverage on shares of Nucor in a research note on Monday, May 20th. They issued a “hold” rating and a $190.00 target price for the company. Finally, Bank of America lowered their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $191.29.

Nucor Stock Performance

NYSE NUE traded down $1.62 on Wednesday, hitting $141.26. 1,218,120 shares of the company’s stock traded hands, compared to its average volume of 1,482,909. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $33.87 billion, a PE ratio of 8.40 and a beta of 1.57. The firm’s 50-day moving average price is $156.12 and its two-hundred day moving average price is $174.04. Nucor Co. has a 1-year low of $139.41 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last posted its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.37. The firm had revenue of $8.08 billion during the quarter, compared to analyst estimates of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.81 EPS. As a group, analysts expect that Nucor Co. will post 10.57 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, June 28th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Friday, June 28th. Nucor’s dividend payout ratio (DPR) is 12.71%.

Insider Activity

In related news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.

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.