Successful Portfolios LLC Has $560,000 Stock Position in Nucor Co. (NYSE:NUE)

Successful Portfolios LLC lifted its position in shares of Nucor Co. (NYSE:NUE) by 93.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,830 shares of the basic materials company’s stock after purchasing an additional 1,370 shares during the quarter. Successful Portfolios LLC’s holdings in Nucor were worth $560,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NUE. SVB Wealth LLC grew its stake in shares of Nucor by 1.5% in the 4th quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock valued at $636,000 after purchasing an additional 54 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Nucor by 6.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock worth $151,000 after purchasing an additional 54 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in Nucor by 0.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock valued at $1,252,000 after purchasing an additional 55 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its position in Nucor by 36.6% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock valued at $38,000 after buying an additional 59 shares in the last quarter. Finally, Fortitude Family Office LLC grew its stake in Nucor by 54.1% during the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after buying an additional 59 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

Nucor stock opened at $158.08 on Monday. Nucor Co. has a 1 year low of $140.07 and a 1 year high of $203.00. The company’s 50-day moving average is $166.46 and its two-hundred day moving average is $177.87. 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 cap of $37.90 billion, a PE ratio of 9.30 and a beta of 1.57.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a net margin of 12.40% and a return on equity of 19.62%. The business had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same quarter in the prior year, the company earned $4.45 earnings per share. The company’s quarterly revenue was down 6.6% on a year-over-year basis. Equities analysts anticipate that Nucor Co. will post 10.84 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.37%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Analyst Ratings Changes

A number of research firms have recently issued reports on NUE. BMO Capital Markets cut 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. Jefferies Financial Group began coverage on Nucor in a research note on Monday, May 20th. They issued a “hold” rating and a $190.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research note on Tuesday, June 11th. Bank of America reduced their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Finally, Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $189.67.

Nucor Company 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.