Nucor Co. (NYSE:NUE) Shares Acquired by DeDora Capital Inc.

DeDora Capital Inc. increased its holdings in Nucor Co. (NYSE:NUE) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,031 shares of the basic materials company’s stock after purchasing an additional 134 shares during the quarter. DeDora Capital Inc.’s holdings in Nucor were worth $456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in shares of Nucor by 188.6% during the 4th quarter. Wellington Management Group LLP now owns 64,537 shares of the basic materials company’s stock worth $11,232,000 after buying an additional 42,178 shares during the period. Park Avenue Securities LLC raised its stake in Nucor by 5.9% during the 1st quarter. Park Avenue Securities LLC now owns 8,824 shares of the basic materials company’s stock valued at $1,746,000 after purchasing an additional 490 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in Nucor by 3.5% during the 1st quarter. Gateway Investment Advisers LLC now owns 24,889 shares of the basic materials company’s stock valued at $4,926,000 after purchasing an additional 839 shares during the last quarter. Community Bank of Raymore raised its stake in shares of Nucor by 1.0% in the 1st quarter. Community Bank of Raymore now owns 11,620 shares of the basic materials company’s stock valued at $2,300,000 after buying an additional 110 shares in the last quarter. Finally, Davis Investment Partners LLC raised its stake in shares of Nucor by 18.1% in the 1st quarter. Davis Investment Partners LLC now owns 3,308 shares of the basic materials company’s stock valued at $656,000 after buying an additional 508 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NUE. BMO Capital Markets dropped their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley lowered their price objective on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Finally, Bank of America decreased their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.43.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the sale, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.

Nucor Stock Down 7.2 %

NYSE NUE traded down $11.26 during mid-day trading on Tuesday, hitting $144.85. The company’s stock had a trading volume of 890,201 shares, compared to its average volume of 1,468,526. The company’s 50 day simple moving average is $147.74 and its 200 day simple moving average is $159.90. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $34.73 billion, a price-to-earnings ratio of 8.52 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. During the same period last year, the business earned $4.57 EPS. The business’s revenue was down 15.2% on a year-over-year basis. Analysts anticipate that Nucor Co. will post 9.08 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 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.