Nucor Co. (NYSE:NUE) Shares Acquired by Range Financial Group LLC

Range Financial Group LLC boosted its position in Nucor Co. (NYSE:NUE) by 13.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,874 shares of the basic materials company’s stock after purchasing an additional 220 shares during the period. Range Financial Group LLC’s holdings in Nucor were worth $371,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. SVB Wealth LLC increased its stake in Nucor by 1.5% in the 4th quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock valued at $636,000 after purchasing an additional 54 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Nucor by 6.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock valued at $151,000 after purchasing an additional 54 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in Nucor by 0.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock valued at $1,252,000 after purchasing an additional 55 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC increased its position in Nucor by 36.6% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after buying an additional 59 shares in the last quarter. Finally, Fortitude Family Office LLC increased its position in Nucor by 54.1% during the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after buying an additional 59 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on NUE. Jefferies Financial Group began coverage on Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price target for the company. Citigroup raised 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. JPMorgan Chase & Co. lowered their price objective on Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday, June 11th. BMO Capital Markets lowered their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research report on Monday, June 17th. Finally, StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Nucor has an average rating of “Hold” and a consensus price target of $188.38.

Nucor Price Performance

Shares of Nucor stock opened at $155.52 on Tuesday. Nucor Co. has a twelve month low of $140.07 and a twelve month high of $203.00. The stock has a market capitalization of $37.29 billion, a P/E ratio of 9.15 and a beta of 1.60. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The business’s fifty day moving average price is $169.43 and its 200 day moving average price is $178.14.

Nucor (NYSE:NUE) last issued its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The firm had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. Nucor’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.45 EPS. As a group, research analysts anticipate that Nucor Co. will post 11.07 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently disclosed 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 1.39%. The ex-dividend date is Friday, June 28th. Nucor’s dividend payout ratio is presently 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.