Pittenger & Anderson Inc. lifted its holdings in Nucor Co. (NYSE:NUE – Get Rating) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,980 shares of the basic materials company’s stock after purchasing an additional 380 shares during the period. Pittenger & Anderson Inc.’s holdings in Nucor were worth $624,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Riverview Trust Co acquired a new position in shares of Nucor in the 1st quarter worth approximately $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of Nucor in the 1st quarter worth approximately $30,000. Capital Advisory Group Advisory Services LLC purchased a new position in shares of Nucor in the first quarter worth approximately $30,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Nucor in the first quarter worth approximately $32,000. Finally, Riggs Asset Managment Co. Inc. purchased a new position in shares of Nucor in the first quarter worth approximately $33,000. Institutional investors and hedge funds own 79.07% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on NUE. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $146.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 14th. Citigroup lifted their target price on shares of Nucor to $145.00 in a research report on Tuesday, September 13th. The Goldman Sachs Group dropped their target price on shares of Nucor from $148.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 31st. Morgan Stanley decreased their price target on shares of Nucor from $121.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, July 25th. Finally, StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $132.78.
Insider Buying and Selling
Nucor Price Performance
NYSE NUE opened at $108.85 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.62 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $28.50 billion, a PE ratio of 3.34 and a beta of 1.39. The company has a 50 day moving average price of $131.13 and a two-hundred day moving average price of $132.80. Nucor Co. has a 12-month low of $88.50 and a 12-month high of $187.90.
Nucor (NYSE:NUE – Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The basic materials company reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.91 by $0.76. The firm had revenue of $11.79 billion for the quarter, compared to analyst estimates of $11.59 billion. Nucor had a net margin of 21.03% and a return on equity of 57.78%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.04 EPS. As a group, equities analysts predict that Nucor Co. will post 31.08 earnings per share for the current fiscal year.
Nucor Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, September 29th. Nucor’s payout ratio is 6.14%.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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