Nucor Co. (NYSE:NUE) Shares Bought by Yousif Capital Management LLC

Yousif Capital Management LLC grew its holdings in Nucor Co. (NYSE:NUE) by 12.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 92,532 shares of the basic materials company’s stock after acquiring an additional 10,462 shares during the quarter. Yousif Capital Management LLC’s holdings in Nucor were worth $11,135,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NUE. Norges Bank purchased a new position in shares of Nucor in the 4th quarter valued at about $398,077,000. GAMMA Investing LLC increased its holdings in shares of Nucor by 17,785.0% in the 1st quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company’s stock valued at $60,867,000 after acquiring an additional 502,961 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Nucor by 24.6% in the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company’s stock valued at $280,627,000 after acquiring an additional 474,274 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Nucor by 528.6% in the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company’s stock valued at $59,235,000 after acquiring an additional 426,949 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Nucor by 18.7% in the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock valued at $284,220,000 after acquiring an additional 384,205 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 1.7%

Shares of NUE stock opened at $124.63 on Wednesday. The business’s 50 day moving average is $114.06 and its two-hundred day moving average is $124.31. Nucor Co. has a twelve month low of $97.59 and a twelve month high of $170.52. The company has a market capitalization of $28.76 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 0.96 and a beta of 1.68. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27.

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

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.77%. Nucor’s dividend payout ratio (DPR) is currently 39.15%.

Insider Buying and Selling at Nucor

In related news, CEO Leon J. Topalian sold 34,238 shares of Nucor stock in a transaction that occurred on Thursday, May 1st. The stock was 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 $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group dropped their price objective on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Morgan Stanley set a $164.00 price target on Nucor in a research note on Monday, March 24th. Argus set a $155.00 price target on Nucor in a research note on Wednesday, March 5th. Wall Street Zen downgraded Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group dropped their price target on Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.22.

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.