Signaturefd LLC Raises Stock Position in Nucor Co. (NYSE:NUE)

Signaturefd LLC raised its holdings in shares of Nucor Co. (NYSE:NUE) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,769 shares of the basic materials company’s stock after acquiring an additional 157 shares during the quarter. Signaturefd LLC’s holdings in Nucor were worth $1,004,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NUE. PFG Advisors boosted its stake in Nucor by 21.3% in the 3rd quarter. PFG Advisors now owns 2,359 shares of the basic materials company’s stock worth $369,000 after purchasing an additional 415 shares during the period. Summit Global Investments purchased a new position in Nucor during the third quarter valued at $235,000. Douglas Lane & Associates LLC increased its holdings in Nucor by 109.2% in the 3rd quarter. Douglas Lane & Associates LLC now owns 56,015 shares of the basic materials company’s stock valued at $8,758,000 after acquiring an additional 29,241 shares during the last quarter. 1900 Wealth Management LLC purchased a new stake in Nucor in the 3rd quarter worth $212,000. Finally, Avior Wealth Management LLC boosted its holdings in shares of Nucor by 310.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,360 shares of the basic materials company’s stock valued at $213,000 after purchasing an additional 1,029 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 0.2 %

Shares of NUE opened at $191.74 on Tuesday. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $191.30 and a 200 day moving average of $174.06. The company has a market cap of $46.01 billion, a PE ratio of 10.66 and a beta of 1.61. Nucor Co. has a 52-week low of $129.79 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.60 by ($0.14). The firm had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The company’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $4.45 EPS. On average, sell-side analysts expect that Nucor Co. will post 12.93 EPS for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.13%. Nucor’s dividend payout ratio is 12.01%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NUE. UBS Group initiated coverage on Nucor in a research note on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target for the company. JPMorgan Chase & Co. boosted their price target on shares of Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and upped their price target for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, StockNews.com raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.83.

Insider Transactions at Nucor

In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total value of $1,901,900.00. Following the transaction, the executive vice president now owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the sale, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the transaction, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,151 shares of company stock worth $7,308,683. 0.64% of the stock is currently 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.