Hudson Edge Investment Partners Inc. Boosts Stock Position in Nucor Co. (NYSE:NUE)

Hudson Edge Investment Partners Inc. increased its holdings in Nucor Co. (NYSE:NUE) by 34.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,173 shares of the basic materials company’s stock after purchasing an additional 13,611 shares during the quarter. Nucor makes up approximately 1.1% of Hudson Edge Investment Partners Inc.’s holdings, making the stock its 27th largest holding. Hudson Edge Investment Partners Inc.’s holdings in Nucor were worth $6,206,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of Nucor in the 3rd quarter worth approximately $26,000. Coastline Trust Co bought a new stake in Nucor in the third quarter valued at $29,000. Crews Bank & Trust purchased a new position in Nucor during the 4th quarter valued at $29,000. New Wave Wealth Advisors LLC bought a new position in Nucor in the 4th quarter worth $33,000. Finally, Salomon & Ludwin LLC lifted its position in shares of Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NYSE:NUE opened at $135.19 on Friday. The company has a market capitalization of $31.74 billion, a PE ratio of 16.07, a PEG ratio of 0.96 and a beta of 1.60. The business has a fifty day moving average price of $125.00 and a 200-day moving average price of $139.99. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same period in the previous year, the firm earned $3.16 earnings per share. As a group, equities analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.63%. Nucor’s dividend payout ratio is 26.16%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NUE shares. Morgan Stanley reduced their price target on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. UBS Group reiterated a “neutral” rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lowered their price objective on Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group upped their target price on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.13.

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.