Nucor Co. (NYSE:NUE) Stock Position Reduced by MRP Capital Investments LLC

MRP Capital Investments LLC decreased its stake in Nucor Co. (NYSE:NUE) by 23.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,880 shares of the basic materials company’s stock after selling 565 shares during the quarter. MRP Capital Investments LLC’s holdings in Nucor were worth $297,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Rise Advisors LLC purchased a new stake in shares of Nucor during the first quarter worth $27,000. Chilton Capital Management LLC lifted its holdings in shares of Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after buying an additional 65 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Nucor in the 1st quarter valued at approximately $28,000. Tompkins Financial Corp increased its holdings in Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after buying an additional 104 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new position in Nucor during the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Bank of America decreased their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. JPMorgan Chase & Co. raised shares of Nucor from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $170.00 to $174.00 in a research report on Monday, September 9th. Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. BMO Capital Markets lowered their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, Morgan Stanley reduced their target price on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $192.00.

Nucor Stock Performance

NUE opened at $143.00 on Thursday. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The stock’s 50 day moving average price is $150.15 and its two-hundred day moving average price is $166.56. The firm has a market capitalization of $34.29 billion, a P/E ratio of 8.41 and a beta of 1.55. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The company had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the previous year, the firm posted $5.81 EPS. The business’s revenue was down 15.2% compared to the same quarter last year. On average, equities analysts forecast that Nucor Co. will post 9.95 earnings per share for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.51%. Nucor’s payout ratio is 12.71%.

Insider Buying and Selling

In other news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the transaction, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. The sale was disclosed in a filing with the SEC, which is available at this link. 0.46% of the stock is owned by company 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.