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

Insight Folios Inc cut its holdings in shares of Nucor Co. (NYSE:NUE) by 18.0% during the first quarter, Holdings Channel reports. The fund owned 39,914 shares of the basic materials company’s stock after selling 8,788 shares during the period. Nucor makes up about 3.2% of Insight Folios Inc’s portfolio, making the stock its 4th biggest position. Insight Folios Inc’s holdings in Nucor were worth $7,899,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of NUE. Criterion Capital Advisors LLC bought a new stake in Nucor during the 4th quarter worth approximately $25,000. Rise Advisors LLC bought a new position in Nucor in the 1st quarter valued at $27,000. Tompkins Financial Corp boosted its position in Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after buying an additional 104 shares during the last quarter. Fortitude Family Office LLC boosted its position in Nucor by 54.1% in the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after buying an additional 59 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its position in Nucor by 716.7% in the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock valued at $34,000 after buying an additional 172 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of recent research reports. Citigroup upgraded 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 research report on Wednesday, March 13th. Jefferies Financial Group initiated coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 price objective on the stock. Bank of America decreased their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. BMO Capital Markets decreased their price objective 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. Finally, JPMorgan Chase & Co. cut their price target on Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Nucor presently has a consensus rating of “Hold” and an average price target of $189.67.

Nucor Trading Down 0.0 %

Nucor stock traded down $0.04 during mid-day trading on Thursday, hitting $156.42. 737,493 shares of the company’s stock were exchanged, compared to its average volume of 1,707,046. The firm has a market capitalization of $37.50 billion, a P/E ratio of 9.20 and a beta of 1.57. Nucor Co. has a fifty-two week low of $140.07 and a fifty-two week high of $203.00. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. The company’s 50 day simple moving average is $165.08 and its 200-day simple moving average is $177.51.

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 the consensus estimate of $3.62 by ($0.16). The business had revenue of $8.14 billion for 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 quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $4.45 EPS. On average, equities analysts anticipate that Nucor Co. will post 10.84 earnings per share for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, June 28th. Nucor’s dividend payout ratio is 12.71%.

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.