Bridgefront Capital LLC Takes $410,000 Position in Nucor Co. (NYSE:NUE)

Bridgefront Capital LLC bought a new position in shares of Nucor Co. (NYSE:NUE) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,516 shares of the basic materials company’s stock, valued at approximately $410,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after buying an additional 114 shares during the period. Nordea Investment Management AB lifted its holdings in Nucor by 25.6% during the 4th quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after purchasing an additional 358,721 shares during the last quarter. InvesTrust bought a new position in Nucor during the fourth quarter worth $4,388,000. Douglas Lane & Associates LLC boosted its position in Nucor by 110.0% during the fourth quarter. Douglas Lane & Associates LLC now owns 204,864 shares of the basic materials company’s stock worth $23,910,000 after purchasing an additional 107,296 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV increased its holdings in shares of Nucor by 5.4% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 33,339 shares of the basic materials company’s stock valued at $3,891,000 after purchasing an additional 1,708 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NUE. Argus set a $155.00 target price on shares of Nucor in a report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their target price on Nucor from $156.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. UBS Group upgraded Nucor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $156.00 to $160.00 in a research note on Monday, March 24th. StockNews.com downgraded Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group increased their price objective on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average price target of $160.33.

Nucor Stock Down 3.0 %

NUE stock opened at $116.88 on Wednesday. The company has a market cap of $26.95 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Co. has a 52 week low of $97.59 and a 52 week high of $176.59. The business has a 50-day simple moving average of $120.14 and a 200 day simple moving average of $130.10.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The firm had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. The business’s revenue was down 3.8% on a year-over-year basis. During the same period last year, the company posted $3.46 EPS. Sell-side analysts anticipate that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.88%. Nucor’s dividend payout ratio is currently 39.15%.

Insider Activity at Nucor

In other news, CEO Leon J. Topalian sold 34,238 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the sale, the chief executive officer now directly owns 162,993 shares in the company, valued at approximately $19,590,128.67. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by 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.