Nucor Co. (NYSE:NUE) Shares Bought by SPC Financial Inc.

SPC Financial Inc. lifted its position in Nucor Co. (NYSE:NUE) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,897 shares of the basic materials company’s stock after acquiring an additional 106 shares during the period. SPC Financial Inc.’s holdings in Nucor were worth $1,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CX Institutional grew its holdings in shares of Nucor by 52.8% in the second quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock valued at $2,726,000 after purchasing an additional 5,960 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in Nucor by 94.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,855 shares of the basic materials company’s stock valued at $323,000 after acquiring an additional 900 shares during the period. Norden Group LLC purchased a new stake in shares of Nucor during the first quarter worth approximately $1,847,000. Banco Santander S.A. lifted its stake in shares of Nucor by 86.2% in the 1st quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock worth $2,552,000 after acquiring an additional 5,971 shares during the period. Finally, Ascension Asset Management LLC purchased a new stake in Nucor in the 2nd quarter valued at approximately $885,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NUE. Bank of America lowered their price target on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Morgan Stanley dropped their price objective on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. BMO Capital Markets reduced their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. raised shares of Nucor from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $170.00 to $174.00 in a research report on Monday, September 9th. Finally, Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.00.

Nucor Price Performance

Shares of NUE opened at $150.35 on Tuesday. The business’s 50-day moving average is $147.88 and its 200-day moving average is $164.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. The company has a market capitalization of $36.05 billion, a price-to-earnings ratio of 8.84 and a beta of 1.55. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.37. The firm had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.81 EPS. Equities research analysts expect that Nucor Co. will post 9.28 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, September 27th. Nucor’s payout ratio is currently 12.71%.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at $15,847,840. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.