Insight Folios Inc Cuts Position in Nucor Co. (NYSE:NUE)

Insight Folios Inc decreased its stake in Nucor Co. (NYSE:NUE) by 18.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,914 shares of the basic materials company’s stock after selling 8,788 shares during the period. Nucor accounts for 3.2% of Insight Folios Inc’s portfolio, making the stock its 4th largest position. Insight Folios Inc’s holdings in Nucor were worth $7,899,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new stake in shares of Nucor in the 4th quarter worth approximately $377,631,000. Pacer Advisors Inc. lifted its holdings in shares of Nucor by 13.0% in the 4th quarter. Pacer Advisors Inc. now owns 2,070,960 shares of the basic materials company’s stock worth $360,430,000 after purchasing an additional 237,752 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nucor by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,499,893 shares of the basic materials company’s stock worth $261,041,000 after purchasing an additional 36,304 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Nucor by 6.7% in the 4th quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock worth $237,949,000 after purchasing an additional 85,475 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Nucor by 2.1% in the 4th quarter. Nordea Investment Management AB now owns 1,094,177 shares of the basic materials company’s stock worth $190,376,000 after purchasing an additional 22,596 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NUE stock traded down $0.04 during mid-day trading on Thursday, hitting $156.42. 737,493 shares of the stock traded hands, compared to its average volume of 1,707,046. Nucor Co. has a twelve month low of $140.07 and a twelve month high of $203.00. The firm has a market cap of $37.50 billion, a price-to-earnings ratio of 9.20 and a beta of 1.57. The company’s 50-day simple moving average is $165.08 and its 200-day simple moving average is $177.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02.

Nucor (NYSE:NUE) last issued its 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 company had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.45 earnings per share. As a group, equities research analysts expect that Nucor Co. will post 10.84 earnings per share for the current year.

Nucor Announces Dividend

The business also recently announced 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 dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, June 28th. Nucor’s payout ratio is 12.71%.

Analysts Set New Price Targets

Several analysts recently commented on NUE shares. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and raised their target price for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Jefferies Financial Group started coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 target price on the stock. BMO Capital Markets lowered their target price on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research report on Monday, June 17th. Bank of America lowered their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. lowered their target price on Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Nucor currently has a consensus rating of “Hold” and a consensus price target of $189.67.

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.