Dover Advisors LLC Purchases Shares of 3,636 Nucor Co. (NYSE:NUE)

Dover Advisors LLC bought a new stake in shares of Nucor Co. (NYSE:NUE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,636 shares of the basic materials company's stock, valued at approximately $440,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Nucor in the 4th quarter valued at approximately $398,077,000. GAMMA Investing LLC raised its holdings in shares of Nucor by 17,785.0% in the 1st quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company's stock worth $60,867,000 after buying an additional 502,961 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Nucor by 24.6% in the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock worth $280,627,000 after buying an additional 474,274 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Nucor by 528.6% in the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock worth $59,235,000 after buying an additional 426,949 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Nucor by 18.7% in the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock worth $284,220,000 after buying an additional 384,205 shares in the last quarter. Institutional investors own 76.48% of the company's stock.

Insider Transactions at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of Nucor stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $120.19, for a total value of $4,115,065.22. Following the sale, the chief executive officer now owns 162,993 shares of the company's stock, valued at $19,590,128.67. This trade represents a 17.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.46% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of recent research reports. Argus set a $155.00 target price on Nucor in a report on Wednesday, March 5th. UBS Group dropped their price target on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and raised their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. Morgan Stanley set a $164.00 price target on Nucor in a report on Monday, March 24th. Finally, The Goldman Sachs Group dropped their price target on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Nucor currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.22.

Nucor Trading Up 2.9%

Shares of NYSE:NUE traded up $3.39 during midday trading on Friday, hitting $121.84. The company had a trading volume of 3,303,641 shares, compared to its average volume of 2,212,119. Nucor Co. has a 12 month low of $97.59 and a 12 month high of $170.52. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The stock has a market cap of $28.11 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 0.96 and a beta of 1.67. The firm has a fifty day simple moving average of $115.00 and a 200 day simple moving average of $123.58.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a return on equity of 9.85% and a net margin of 6.60%. The company had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same quarter in the prior year, the business earned $3.46 earnings per share. The firm's revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts predict that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Monday, June 30th. Nucor's dividend payout ratio (DPR) is presently 39.15%.

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.