Fortem Financial Group LLC Has $475,000 Stake in Nucor Co. (NYSE:NUE)

Fortem Financial Group LLC increased its position in Nucor Co. (NYSE:NUE) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,073 shares of the basic materials company’s stock after acquiring an additional 228 shares during the quarter. Fortem Financial Group LLC’s holdings in Nucor were worth $475,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. TD Asset Management Inc raised its stake in shares of Nucor by 1.6% during the second quarter. TD Asset Management Inc now owns 86,681 shares of the basic materials company’s stock valued at $13,703,000 after acquiring an additional 1,347 shares during the last quarter. Victory Capital Management Inc. raised its position in Nucor by 2.3% during the 2nd quarter. Victory Capital Management Inc. now owns 357,385 shares of the basic materials company’s stock worth $56,495,000 after purchasing an additional 8,205 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Nucor by 3.4% during the 2nd quarter. Private Advisor Group LLC now owns 17,461 shares of the basic materials company’s stock worth $2,760,000 after buying an additional 570 shares during the period. Candriam S.C.A. increased its stake in shares of Nucor by 6.8% in the second quarter. Candriam S.C.A. now owns 16,890 shares of the basic materials company’s stock valued at $2,670,000 after buying an additional 1,070 shares during the period. Finally, Savant Capital LLC raised its position in shares of Nucor by 1.3% during the second quarter. Savant Capital LLC now owns 10,468 shares of the basic materials company’s stock worth $1,655,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares in the company, valued at $13,923,837.96. The trade was a 5.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the sale, the executive vice president now owns 85,376 shares in the company, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,680 shares of company stock valued at $4,773,724. Corporate insiders own 0.46% of the company’s stock.

Nucor Stock Up 4.0 %

NUE stock traded up $4.64 during mid-day trading on Monday, reaching $120.09. 1,827,574 shares of the company traded hands, compared to its average volume of 1,725,413. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average price is $139.23 and its 200 day moving average price is $146.84. The stock has a market cap of $28.20 billion, a price-to-earnings ratio of 11.60 and a beta of 1.60. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the prior year, the company posted $4.57 earnings per share. Nucor’s revenue was down 15.2% compared to the same quarter last year. As a group, equities research analysts predict that Nucor Co. will post 8.48 EPS for the current fiscal year.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 1.83%. Nucor’s payout ratio is 21.26%.

Wall Street Analysts Forecast Growth

NUE has been the topic of several analyst reports. Jefferies Financial Group reduced their target price on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a report on Monday. Morgan Stanley decreased their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Citigroup dropped their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group assumed coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. Finally, UBS Group restated a “neutral” rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $165.63.

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.