Integrated Advisors Network LLC Increases Stock Holdings in Nucor Co. (NYSE:NUE)

Integrated Advisors Network LLC increased its holdings in shares of Nucor Co. (NYSE:NUE) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,141 shares of the basic materials company’s stock after buying an additional 70 shares during the period. Integrated Advisors Network LLC’s holdings in Nucor were worth $373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NUE. Kestra Advisory Services LLC lifted its holdings in Nucor by 8.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 24,542 shares of the basic materials company’s stock valued at $3,837,000 after purchasing an additional 1,974 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Nucor in the 3rd quarter valued at $2,033,000. CI Investments Inc. lifted its holdings in Nucor by 270.5% in the 3rd quarter. CI Investments Inc. now owns 2,597 shares of the basic materials company’s stock valued at $406,000 after purchasing an additional 1,896 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Nucor by 87.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,782 shares of the basic materials company’s stock valued at $435,000 after purchasing an additional 1,294 shares in the last quarter. Finally, Provence Wealth Management Group purchased a new position in Nucor in the 3rd quarter valued at $211,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other Nucor news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the transaction, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BMO Capital Markets decreased their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a report on Monday. JPMorgan Chase & Co. reduced their price target on Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a report on Tuesday, June 11th. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Jefferies Financial Group initiated coverage on Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 price target on the stock. Finally, Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Nucor has a consensus rating of “Hold” and a consensus target price of $188.38.

Nucor Stock Down 1.1 %

Shares of NYSE:NUE opened at $155.63 on Wednesday. The business has a 50-day moving average price of $172.60 and a 200 day moving average price of $178.37. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $37.31 billion, a price-to-earnings ratio of 9.15 and a beta of 1.60. Nucor Co. has a 12-month low of $140.07 and a 12-month high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The business had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $4.45 earnings per share. Sell-side analysts expect that Nucor Co. will post 11.96 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, June 28th. Nucor’s dividend payout ratio is currently 12.71%.

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.