Successful Portfolios LLC Buys Shares of 1,460 Nucor Co. (NYSE:NUE)

Successful Portfolios LLC bought a new stake in Nucor Co. (NYSE:NUE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,460 shares of the basic materials company’s stock, valued at approximately $254,000.

Other hedge funds have also recently modified their holdings of the company. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Nucor in the 3rd quarter worth approximately $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Nucor in the 1st quarter valued at approximately $32,000. VisionPoint Advisory Group LLC acquired a new stake in Nucor during the second quarter worth approximately $39,000. Chilton Capital Management LLC raised its holdings in Nucor by 260.9% during the second quarter. Chilton Capital Management LLC now owns 249 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Nucor by 2,410.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Activity

In other news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Nucor news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 5,500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the sale, the executive vice president now directly owns 85,326 shares in the company, valued at $15,902,206.62. The disclosure for this sale can be found here. Insiders sold 38,151 shares of company stock valued at $7,308,683 over the last three months. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NUE shares. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. UBS Group began coverage on Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective for the company. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Nucor from $151.00 to $158.00 and gave the company a “neutral” rating in a research note on Tuesday, December 12th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $186.67.

Nucor Trading Down 0.3 %

Shares of NYSE:NUE traded down $0.66 during mid-day trading on Thursday, hitting $197.90. The stock had a trading volume of 1,051,658 shares, compared to its average volume of 1,471,439. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. The company has a market cap of $47.49 billion, a PE ratio of 11.04 and a beta of 1.61. Nucor Co. has a 12-month low of $129.79 and a 12-month high of $199.00. The company’s 50 day moving average is $184.52 and its 200-day moving average is $168.75.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.33. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. Nucor’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period last year, the firm earned $4.89 earnings per share. On average, sell-side analysts predict that Nucor Co. will post 14.03 EPS for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.09%. Nucor’s payout ratio is 12.01%.

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.