General Partner Inc. Buys New Holdings in Nucor Co. (NYSE:NUE)

General Partner Inc. bought a new stake in Nucor Co. (NYSE:NUE) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 262 shares of the basic materials company’s stock, valued at approximately $52,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA purchased a new stake in shares of Nucor during the 4th quarter worth approximately $3,481,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Nucor by 6.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 262,385 shares of the basic materials company’s stock worth $45,665,000 after buying an additional 15,058 shares during the last quarter. AIA Group Ltd lifted its position in shares of Nucor by 53.2% during the 4th quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock worth $2,302,000 after buying an additional 4,592 shares during the last quarter. Sapient Capital LLC purchased a new stake in shares of Nucor during the 4th quarter worth approximately $1,230,000. Finally, abrdn plc lifted its position in shares of 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 buying an additional 45,521 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the subject of several recent analyst reports. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday, June 11th. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and upped their price target for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Jefferies Financial Group initiated coverage on shares of Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 price target for the company. Finally, BMO Capital Markets reduced their price target on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research report on Monday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $188.38.

Insider Buying and Selling at Nucor

In other Nucor news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 120,738 shares in the company, valued at approximately $23,351,936.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the transaction, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The disclosure for this sale can be found here. 0.64% of the stock is owned by insiders.

Nucor Stock Performance

NUE traded down $2.28 during trading on Tuesday, hitting $155.10. The stock had a trading volume of 619,841 shares, compared to its average volume of 1,420,847. The firm has a market capitalization of $37.19 billion, a P/E ratio of 9.26 and a beta of 1.60. Nucor Co. has a twelve month low of $140.07 and a twelve month high of $203.00. The company’s 50-day moving average price is $173.48 and its 200 day moving average price is $178.48. 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 quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The business had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. Nucor’s revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $4.45 earnings per share. On average, equities research analysts forecast that Nucor Co. will post 11.96 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be paid a $0.54 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a yield of 1.39%. Nucor’s payout ratio is 12.71%.

Nucor Company 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.