Fidelis Capital Partners LLC Has $269,000 Position in Nucor Co. (NYSE:NUE)

Fidelis Capital Partners LLC raised its stake in Nucor Co. (NYSE:NUE) by 8.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,853 shares of the basic materials company’s stock after acquiring an additional 150 shares during the period. Fidelis Capital Partners LLC’s holdings in Nucor were worth $269,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NUE. Dimensional Fund Advisors LP lifted its position in Nucor by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after purchasing an additional 84,558 shares during the period. Pacer Advisors Inc. raised its position in shares of Nucor by 29.7% in the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after buying an additional 660,866 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Nucor by 6.7% during the 4th quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock worth $237,949,000 after acquiring an additional 85,475 shares during the period. Nordea Investment Management AB boosted its position in shares of Nucor by 6.5% during the 1st quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock worth $230,572,000 after acquiring an additional 70,917 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in Nucor by 11.6% in the second quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock valued at $169,433,000 after acquiring an additional 111,177 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

NYSE:NUE opened at $147.00 on Tuesday. The stock’s 50-day moving average is $149.30 and its 200-day moving average is $165.61. The stock has a market cap of $35.25 billion, a P/E ratio of 8.65 and a beta of 1.55. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.37. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The company’s revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $5.81 EPS. Equities research analysts anticipate that Nucor Co. will post 9.95 earnings per share for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio is currently 12.71%.

Insiders Place Their Bets

In other news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the sale, 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 at this link. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NUE shares. JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $170.00 to $174.00 in a research note on Monday, September 9th. BMO Capital Markets lowered their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Morgan Stanley reduced their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, 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 note on Wednesday, June 26th. Three 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’s stock. Based on data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and an average price target of $192.00.

About Nucor

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.