Nucor Co. (NYSE:NUE) Shares Sold by Stamos Capital Partners L.P.

Stamos Capital Partners L.P. decreased its stake in Nucor Co. (NYSE:NUE) by 42.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,290 shares of the basic materials company’s stock after selling 960 shares during the period. Stamos Capital Partners L.P.’s holdings in Nucor were worth $255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CVA Family Office LLC acquired a new position in Nucor in the fourth quarter worth approximately $146,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of Nucor in the fourth quarter valued at $539,000. Douglas Lane & Associates LLC boosted its position in shares of Nucor by 32.0% in the fourth quarter. Douglas Lane & Associates LLC now owns 73,934 shares of the basic materials company’s stock worth $12,867,000 after buying an additional 17,919 shares during the period. Waterway Wealth Management LLC purchased a new position in shares of Nucor during the fourth quarter valued at $480,000. Finally, IFG Advisory LLC grew its holdings in shares of Nucor by 5.3% during the fourth quarter. IFG Advisory LLC now owns 6,549 shares of the basic materials company’s stock valued at $1,140,000 after buying an additional 328 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NUE. 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 note on Monday, June 17th. Jefferies Financial Group started coverage on shares of Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Bank of America cut their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $191.29.

Nucor Stock Up 2.5 %

Shares of Nucor stock traded up $3.87 during midday trading on Friday, reaching $160.89. 1,252,615 shares of the company’s stock traded hands, compared to its average volume of 1,476,535. The company has a market cap of $38.57 billion, a price-to-earnings ratio of 9.23 and a beta of 1.57. Nucor Co. has a 52 week low of $140.07 and a 52 week high of $203.00. The company’s 50 day simple moving average is $160.69 and its 200 day simple moving average is $175.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.48 and a current ratio of 2.93.

Nucor (NYSE:NUE) last posted its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.37. The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business’s revenue was down 15.2% compared to the same quarter last year. During the same period last year, the company earned $5.81 earnings per share. Equities analysts expect that Nucor Co. will post 10.68 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a yield of 1.34%. Nucor’s payout ratio is currently 12.71%.

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.