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

Signaturefd LLC boosted its position in shares of Nucor Co. (NYSE:NUE) by 2.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,769 shares of the basic materials company’s stock after buying an additional 157 shares during the period. Signaturefd LLC’s holdings in Nucor were worth $1,004,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC boosted its stake in shares of Nucor by 31.0% in the fourth quarter. Lindbrook Capital LLC now owns 1,213 shares of the basic materials company’s stock worth $211,000 after acquiring an additional 287 shares during the last quarter. abrdn plc boosted its stake in Nucor by 41.7% during the 4th quarter. abrdn plc now owns 154,745 shares of the basic materials company’s stock worth $26,932,000 after purchasing an additional 45,521 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Nucor during the fourth quarter worth $221,000. Castle Wealth Management LLC raised its position in shares of Nucor by 7.0% in the fourth quarter. Castle Wealth Management LLC now owns 2,986 shares of the basic materials company’s stock valued at $521,000 after buying an additional 196 shares during the last quarter. Finally, RIA Advisory Group LLC purchased a new position in shares of Nucor in the fourth quarter worth about $485,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. UBS Group started coverage on Nucor in a report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, StockNews.com upgraded Nucor from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and a consensus target price of $192.83.

Nucor Price Performance

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

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.60 by ($0.14). Nucor had a net margin of 13.03% and a return on equity of 21.42%. The company had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. During the same quarter last year, the firm posted $4.45 earnings per share. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, research analysts anticipate that Nucor Co. will post 12.93 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given 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 payout ratio is currently 12.01%.

Insider Buying and Selling at Nucor

In other news, EVP Kenneth Rex Query sold 5,500 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the transaction, the executive vice president now directly owns 85,326 shares in the company, valued at $15,902,206.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Douglas J. Jellison sold 19,506 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the transaction, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the sale, the executive vice president now directly owns 85,326 shares in the company, valued at $15,902,206.62. The disclosure for this sale can be found here. Insiders have sold a total of 38,151 shares of company stock valued at $7,308,683 over the last quarter. 0.64% of the stock is owned by company insiders.

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.