Nucor Co. (NYSE:NUE) Stock Position Lifted by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. lifted its stake in Nucor Co. (NYSE:NUE) by 94.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,855 shares of the basic materials company’s stock after acquiring an additional 900 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Nucor were worth $323,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Criterion Capital Advisors LLC bought a new position in shares of Nucor during the 4th quarter valued at $25,000. Valley National Advisers Inc. boosted its holdings in shares of Nucor by 716.7% during the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after buying an additional 172 shares during the period. Householder Group Estate & Retirement Specialist LLC raised its holdings in Nucor by 36.6% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 59 shares during the period. Private Wealth Management Group LLC acquired a new position in Nucor during the 4th quarter worth $38,000. Finally, Exchange Traded Concepts LLC boosted its holdings in 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 period. 76.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 11th. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and raised their target price for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. BMO Capital Markets cut their price target on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group began coverage on shares of Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Nucor has a consensus rating of “Hold” and an average target price of $188.38.

Insider Activity at Nucor

In other news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were 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 owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Nucor news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the transaction, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

Nucor Stock Down 1.1 %

Shares of NUE stock opened at $155.63 on Wednesday. Nucor Co. has a one year low of $140.07 and a one year high of $203.00. The stock has a market cap of $37.31 billion, a P/E ratio of 9.15 and a beta of 1.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48. The stock has a fifty day moving average price of $172.60 and a 200 day moving average price of $178.37.

Nucor (NYSE:NUE) last announced its quarterly earnings results 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). Nucor had a net margin of 12.40% and a return on equity of 19.62%. The company had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same period in the prior year, the firm earned $4.45 EPS. Nucor’s quarterly revenue was down 6.6% compared to the same quarter last year. Analysts predict that Nucor Co. will post 11.41 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, June 28th. Nucor’s dividend payout ratio is currently 12.71%.

Nucor 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.