PFG Advisors grew its holdings in Nucor Co. (NYSE:NUE – Free Report) by 13.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,966 shares of the basic materials company’s stock after purchasing an additional 240 shares during the quarter. PFG Advisors’ holdings in Nucor were worth $304,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in NUE. Householder Group Estate & Retirement Specialist LLC acquired a new position in Nucor during the 1st quarter worth about $25,000. Delta Asset Management LLC TN acquired a new stake in shares of Nucor in the fourth quarter valued at approximately $26,000. Freedom Wealth Alliance LLC bought a new position in Nucor in the 4th quarter worth approximately $26,000. MinichMacGregor Wealth Management LLC bought a new position in Nucor in the 4th quarter valued at $32,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of Nucor during the first quarter valued at $32,000. Institutional investors own 79.53% of the company’s stock.
Nucor Trading Up 1.2 %
NYSE:NUE opened at $161.98 on Friday. The business’s 50-day simple moving average is $146.62 and its 200-day simple moving average is $151.64. Nucor Co. has a fifty-two week low of $102.86 and a fifty-two week high of $182.68. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.74 and a quick ratio of 2.28. The stock has a market capitalization of $40.69 billion, a PE ratio of 6.35 and a beta of 1.60.
Nucor declared that its board has authorized a share repurchase program on Thursday, May 11th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the basic materials company to buy up to 11.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Nucor Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, June 30th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.26%. Nucor’s payout ratio is presently 8.00%.
Analyst Ratings Changes
A number of research firms have issued reports on NUE. StockNews.com began coverage on shares of Nucor in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Wolfe Research raised shares of Nucor from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 1st. Credit Suisse Group lifted their target price on shares of Nucor from $140.00 to $156.00 and gave the stock an “outperform” rating in a report on Friday, March 17th. The Goldman Sachs Group increased their price target on Nucor from $144.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, March 10th. Finally, BNP Paribas upgraded Nucor from a “neutral” rating to an “outperform” rating and set a $191.00 price objective for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Nucor currently has an average rating of “Hold” and a consensus target price of $153.56.
About Nucor
Nucor Corporation engages in manufacture and sale of steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products.
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