Elo Mutual Pension Insurance Co Increases Stake in Nucor Co. (NYSE:NUE)

Elo Mutual Pension Insurance Co raised its position in Nucor Co. (NYSE:NUEFree Report) by 3.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 21,715 shares of the basic materials company’s stock after purchasing an additional 676 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Nucor were worth $3,779,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Criterion Capital Advisors LLC acquired a new stake in shares of Nucor in the 4th quarter worth $25,000. Valley National Advisers Inc. increased its position in shares of Nucor by 716.7% during the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 172 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC increased its position in shares of Nucor by 36.6% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 59 shares during the last quarter. Private Wealth Management Group LLC acquired a new stake in shares of Nucor during the 4th quarter worth about $38,000. Finally, Exchange Traded Concepts LLC grew its position in Nucor by 2,410.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Activity at Nucor

In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Insiders sold 32,651 shares of company stock valued at $6,283,648 over the last three months. 0.64% of the stock is owned by corporate insiders.

Nucor Stock Performance

Shares of Nucor stock opened at $157.31 on Tuesday. The business has a 50-day simple moving average of $177.95 and a 200-day simple moving average of $178.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. The company has a market cap of $37.72 billion, a PE ratio of 9.25 and a beta of 1.60. Nucor Co. has a one year low of $140.07 and a one year high of $203.00.

Nucor (NYSE:NUEGet Free Report) last announced its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The business had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the company earned $4.45 earnings per share. On average, equities research analysts forecast that Nucor Co. will post 12.57 EPS for the current fiscal year.

Nucor Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. BMO Capital Markets cut their price target on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Jefferies Financial Group assumed coverage on shares of Nucor in a research note on Monday, May 20th. They set a “hold” rating and a $190.00 price target on the stock. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $192.75.

Check Out Our Latest Report on NUE

Nucor Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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