Retirement Guys Formula LLC Has $1.26 Million Stake in Nucor Co. (NYSE:NUE)

Retirement Guys Formula LLC lifted its position in shares of Nucor Co. (NYSE:NUE) by 2.9% during the 1st quarter, HoldingsChannel reports. The fund owned 6,381 shares of the basic materials company’s stock after purchasing an additional 178 shares during the period. Retirement Guys Formula LLC’s holdings in Nucor were worth $1,263,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research analysts have commented on the company. JPMorgan Chase & Co. cut their target price on Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a report on Tuesday, June 11th. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Bank of America cut their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. BMO Capital Markets cut their target price on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a report on Monday, June 17th. Finally, Jefferies Financial Group assumed coverage on Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 target price on the stock. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $189.67.

Nucor Trading Down 0.0 %

Shares of NUE stock traded down $0.04 during mid-day trading on Thursday, hitting $156.42. The company’s stock had a trading volume of 737,493 shares, compared to its average volume of 1,707,046. The company’s fifty day simple moving average is $165.08 and its 200-day simple moving average is $177.51. Nucor Co. has a 52 week low of $140.07 and a 52 week high of $203.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. The company has a market cap of $37.50 billion, a PE ratio of 9.20 and a beta of 1.57.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. During the same period last year, the business posted $4.45 earnings per share. The business’s revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts expect that Nucor Co. will post 10.84 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, June 28th. Nucor’s 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.