Hillsdale Investment Management Inc. Cuts Position in Nucor Co. (NYSE:NUE)

Hillsdale Investment Management Inc. trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 3.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,280 shares of the basic materials company’s stock after selling 100 shares during the period. Hillsdale Investment Management Inc.’s holdings in Nucor were worth $649,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in Nucor during the first quarter valued at about $27,000. Chilton Capital Management LLC boosted its holdings in shares of Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 65 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Nucor during the first quarter worth about $28,000. Criterion Capital Advisors LLC purchased a new stake in shares of Nucor during the fourth quarter worth about $25,000. Finally, Tompkins Financial Corp boosted its holdings in shares of Nucor by 208.0% during the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 104 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NUE has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Bank of America dropped their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, BMO Capital Markets decreased 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 note on Monday, June 17th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $191.29.

Nucor Stock Down 1.5 %

Shares of NYSE NUE traded down $2.46 on Tuesday, reaching $160.88. 575,137 shares of the company’s stock traded hands, compared to its average volume of 1,459,357. Nucor Co. has a 12 month low of $140.07 and a 12 month high of $203.00. The business’s 50 day simple moving average is $161.67 and its two-hundred day simple moving average is $176.00. The company has a market cap of $38.57 billion, a price-to-earnings ratio of 9.57 and a beta of 1.57. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter last year, the firm earned $5.81 earnings per share. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. As a group, equities research analysts forecast that Nucor Co. will post 10.72 EPS for the current fiscal year.

Nucor Announces Dividend

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