Concord Wealth Partners Raises Stake in Nucor Co. (NYSE:NUE)

Concord Wealth Partners raised its stake in Nucor Co. (NYSE:NUE) by 24.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,562 shares of the basic materials company’s stock after buying an additional 888 shares during the quarter. Concord Wealth Partners’ holdings in Nucor were worth $794,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NUE. Criterion Capital Advisors LLC purchased a new position in shares of Nucor during the 4th quarter worth $25,000. Valley National Advisers Inc. grew 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 purchasing an additional 172 shares during the period. Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of Nucor by 36.6% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 59 shares during the period. OFI Invest Asset Management purchased a new position in shares of Nucor during the 3rd quarter worth $40,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Nucor by 2,410.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 241 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup raised 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 research note on Wednesday, March 13th. JPMorgan Chase & Co. decreased their target price on Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. UBS Group assumed coverage on Nucor in a research note on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price on the stock. Finally, BMO Capital Markets decreased their target price on Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $193.14.

Nucor Price Performance

NUE stock opened at $168.67 on Thursday. 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 firm has a market capitalization of $40.48 billion, a P/E ratio of 9.92 and a beta of 1.65. The business’s 50-day moving average is $189.79 and its two-hundred day moving average is $174.89. Nucor Co. has a 1 year low of $129.79 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The company 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 for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $4.45 EPS. Analysts anticipate that Nucor Co. will post 12.5 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.28%. Nucor’s payout ratio is currently 12.71%.

Insider Activity

In other news, insider Michael D. Keller sold 3,145 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the transaction, the executive vice president now owns 120,738 shares in the company, valued at approximately $23,351,936.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the transaction, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,651 shares of company stock worth $6,283,648. 0.46% of the stock is currently owned by insiders.

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.