apricus wealth LLC Invests $2.11 Million in Nucor Co. (NYSE:NUE)

apricus wealth LLC bought a new position in shares of Nucor Co. (NYSE:NUE) in the first quarter, HoldingsChannel reports. The firm bought 17,525 shares of the basic materials company’s stock, valued at approximately $2,109,000.

A number of other institutional investors also recently modified their holdings of NUE. Canal Capital Management LLC raised its position in shares of Nucor by 2.5% during the 4th quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company’s stock valued at $359,000 after purchasing an additional 75 shares during the period. Horrell Capital Management Inc. increased its holdings in Nucor by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company’s stock valued at $3,111,000 after acquiring an additional 76 shares during the last quarter. Jessup Wealth Management Inc increased its holdings in Nucor by 0.9% in the 4th quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company’s stock valued at $1,229,000 after acquiring an additional 93 shares during the last quarter. Beacon Capital Management LLC increased its holdings in Nucor by 29.1% in the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 94 shares during the last quarter. Finally, Diligent Investors LLC increased its holdings in Nucor by 4.6% in the 1st quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company’s stock valued at $276,000 after acquiring an additional 102 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of research reports. Wall Street Zen downgraded shares of Nucor from a “hold” rating to a “sell” rating in a report on Wednesday, April 30th. Argus set a $155.00 target price on shares of Nucor in a report on Wednesday, March 5th. The Goldman Sachs Group reduced their target price on shares of Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a report on Monday, April 7th. UBS Group reduced their target price on shares of Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Finally, BMO Capital Markets upgraded shares of Nucor from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $140.00 to $145.00 in a report on Monday, June 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $157.22.

Nucor Trading Down 6.0%

NYSE NUE opened at $117.17 on Thursday. The company has a fifty day simple moving average of $114.35 and a two-hundred day simple moving average of $124.26. The stock has a market cap of $27.04 billion, a P/E ratio of 13.93, a P/E/G ratio of 0.96 and a beta of 1.68. Nucor Co. has a 12-month low of $97.59 and a 12-month high of $170.52. 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 released its quarterly earnings data 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 business had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.46 EPS. On average, analysts forecast that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.88%. Nucor’s payout ratio is currently 39.15%.

Insider Transactions at Nucor

In other news, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction 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 owns 162,993 shares in the company, valued at $19,590,128.67. This represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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.