Signaturefd LLC Has $940,000 Stock Position in Nucor Co. (NYSE:NUE)

Signaturefd LLC boosted its position in shares of Nucor Co. (NYSE:NUE) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,254 shares of the basic materials company’s stock after purchasing an additional 193 shares during the period. Signaturefd LLC’s holdings in Nucor were worth $940,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CX Institutional lifted its position 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 worth $2,726,000 after buying an additional 5,960 shares during the last quarter. Norden Group LLC acquired a new stake in shares of Nucor in the first quarter worth about $1,847,000. Banco Santander S.A. increased its stake in shares of Nucor by 86.2% in the first quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock worth $2,552,000 after purchasing an additional 5,971 shares during the period. Ascension Asset Management LLC bought a new position in shares of Nucor in the second quarter worth about $885,000. Finally, Kimelman & Baird LLC bought a new position in shares of Nucor in the second quarter worth about $6,655,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity

In other news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. BMO Capital Markets dropped 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. Morgan Stanley dropped their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.57.

Nucor Trading Down 0.2 %

Shares of NUE opened at $141.34 on Friday. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The company has a quick ratio of 1.85, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $33.55 billion, a price-to-earnings ratio of 13.66 and a beta of 1.55. The stock’s 50-day moving average price is $147.81 and its 200 day moving average price is $159.39.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same period in the previous year, the company posted $4.57 earnings per share. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. As a group, research analysts predict that Nucor Co. will post 9.08 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 annualized dividend and a dividend yield of 1.53%. Nucor’s dividend payout ratio is currently 20.87%.

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.