Successful Portfolios LLC Purchases 1,370 Shares of Nucor Co. (NYSE:NUE)

Successful Portfolios LLC raised its position in shares of Nucor Co. (NYSE:NUE) by 93.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,830 shares of the basic materials company’s stock after acquiring an additional 1,370 shares during the quarter. Successful Portfolios LLC’s holdings in Nucor were worth $560,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NUE. Criterion Capital Advisors LLC acquired a new stake in Nucor during the fourth quarter worth approximately $25,000. Rise Advisors LLC acquired a new stake in shares of Nucor during the 1st quarter worth approximately $27,000. Tompkins Financial Corp increased its stake in shares of Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 104 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Nucor by 54.1% during the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 59 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in Nucor by 716.7% during the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 172 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NUE shares. 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. Jefferies Financial Group assumed coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 target price for the company. JPMorgan Chase & Co. cut their price target on Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a report on Tuesday, June 11th. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $189.67.

Nucor Stock Up 2.2 %

Shares of NYSE:NUE opened at $158.08 on Monday. The business’s 50 day moving average is $166.46 and its 200 day moving average is $177.87. Nucor Co. has a 12-month low of $140.07 and a 12-month high of $203.00. The stock has a market cap of $37.90 billion, a price-to-earnings ratio of 9.30 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 issued its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share 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 for the quarter, compared to the consensus estimate of $8.26 billion. During the same quarter last year, the business posted $4.45 earnings per share. Nucor’s revenue was down 6.6% on a year-over-year basis. On average, sell-side analysts forecast that Nucor Co. will post 10.84 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, June 28th. Nucor’s 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.