Successful Portfolios LLC Invests $254,000 in Nucor Co. (NYSE:NUE)

Successful Portfolios LLC acquired a new stake in shares of Nucor Co. (NYSE:NUE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,460 shares of the basic materials company’s stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its holdings in shares of Nucor by 127,059.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 155,232,061 shares of the basic materials company’s stock valued at $20,461,138,000 after purchasing an additional 155,109,984 shares during the period. Geode Capital Management LLC boosted its holdings in Nucor by 0.4% in the first quarter. Geode Capital Management LLC now owns 5,438,353 shares of the basic materials company’s stock valued at $841,209,000 after purchasing an additional 23,366 shares during the last quarter. Morgan Stanley boosted its stake in shares of Nucor by 30.0% during the 4th quarter. Morgan Stanley now owns 4,247,626 shares of the basic materials company’s stock worth $559,880,000 after acquiring an additional 979,824 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Nucor by 3.7% during the 3rd quarter. Northern Trust Corp now owns 4,175,571 shares of the basic materials company’s stock worth $652,851,000 after acquiring an additional 149,589 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Nucor by 7.6% in the 3rd quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock valued at $353,794,000 after buying an additional 159,230 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Price Performance

Shares of NYSE:NUE traded down $0.66 during trading on Thursday, reaching $197.90. The company had a trading volume of 1,051,658 shares, compared to its average volume of 1,471,439. The stock has a market capitalization of $47.49 billion, a P/E ratio of 11.04 and a beta of 1.61. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average of $184.52 and a two-hundred day moving average of $168.75. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $199.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.33. The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.89 earnings per share. Equities research analysts forecast that Nucor Co. will post 14.03 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Wednesday, March 27th. Nucor’s payout ratio is 12.01%.

Insider Buying and Selling at Nucor

In other news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the completion of the sale, the executive vice president now owns 80,902 shares in the company, valued at approximately $15,386,751.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The disclosure for this sale can be found here. Insiders sold a total of 38,151 shares of company stock valued at $7,308,683 in the last three months. 0.46% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on NUE. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. lifted their price target on shares of Nucor from $151.00 to $158.00 and gave the company a “neutral” rating in a report on Tuesday, December 12th. Finally, UBS Group started coverage on shares of Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 target price on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $186.67.

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.