Lindbrook Capital LLC Raises Stock Position in Nucor Co. (NYSE:NUE)

Lindbrook Capital LLC lifted its stake in Nucor Co. (NYSE:NUE) by 31.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,213 shares of the basic materials company’s stock after buying an additional 287 shares during the period. Lindbrook Capital LLC’s holdings in Nucor were worth $211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PFG Advisors lifted its holdings in shares of Nucor by 21.3% in the 3rd quarter. PFG Advisors now owns 2,359 shares of the basic materials company’s stock valued at $369,000 after purchasing an additional 415 shares during the last quarter. Summit Global Investments purchased a new stake in Nucor in the third quarter valued at approximately $235,000. Douglas Lane & Associates LLC boosted its holdings in shares of Nucor by 109.2% in the third quarter. Douglas Lane & Associates LLC now owns 56,015 shares of the basic materials company’s stock valued at $8,758,000 after acquiring an additional 29,241 shares during the period. 1900 Wealth Management LLC purchased a new position in shares of Nucor during the third quarter worth approximately $212,000. Finally, Avior Wealth Management LLC increased its holdings in shares of Nucor by 310.9% in the 3rd quarter. Avior Wealth Management LLC now owns 1,360 shares of the basic materials company’s stock valued at $213,000 after acquiring an additional 1,029 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NUE. StockNews.com upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. increased their target price on shares of Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Finally, UBS Group began coverage on Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $192.83.

Nucor Stock Up 0.2 %

NUE opened at $191.74 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $203.00. The stock has a market capitalization of $46.01 billion, a P/E ratio of 10.66 and a beta of 1.61. The business has a 50 day simple moving average of $191.30 and a 200-day simple moving average of $174.06.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.60 by ($0.14). The business had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. Nucor’s revenue was down 6.6% compared to the same quarter last year. During the same period last year, the business posted $4.45 EPS. On average, equities analysts anticipate that Nucor Co. will post 12.93 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, May 10th. Stockholders of record on Thursday, March 28th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s dividend payout ratio is presently 12.01%.

Insider Buying and Selling at Nucor

In other news, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the sale, the executive vice president now owns 85,326 shares of the company’s stock, valued at $15,902,206.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the sale, the executive vice president now directly owns 120,738 shares in the company, valued at $23,351,936.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the transaction, the executive vice president now directly owns 85,326 shares of the company’s stock, valued at approximately $15,902,206.62. The disclosure for this sale can be found here. In the last three months, insiders sold 38,151 shares of company stock worth $7,308,683. Insiders own 0.64% of the company’s stock.

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.