FCG Investment Co Has $334,000 Stock Position in Nucor Corporation $NUE

Key Points

• FCG Investment Co significantly reduced its stake in Nucor Corporation, owning only 2,578 shares valued at $334,000 after selling 7,973 shares in the second quarter.
• Analysts have mixed views on Nucor's future, with price targets ranging from $140.00 to $170.00, contributing to a consensus rating of "Moderate Buy".
• Nucor declared a quarterly dividend of $0.55 expected to be paid on November 10th, with a current dividend yield of 1.6%.

FCG Investment Co reduced its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 75.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,578 shares of the basic materials company's stock after selling 7,973 shares during the quarter. FCG Investment Co's holdings in Nucor were worth $334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Matrix Trust Co boosted its holdings in Nucor by 53.8% during the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company's stock worth $31,000 after purchasing an additional 84 shares during the last quarter. MV Capital Management Inc. boosted its holdings in Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after purchasing an additional 119 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock worth $41,000 after purchasing an additional 153 shares during the last quarter. Park Square Financial Group LLC purchased a new position in Nucor during the fourth quarter worth about $48,000. Finally, Spirit of America Management Corp NY purchased a new position in Nucor during the first quarter worth about $48,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NUE has been the topic of several analyst reports. Bank of America boosted their price target on shares of Nucor from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Wells Fargo & Company lowered their price objective on shares of Nucor from $146.00 to $140.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 18th. Jefferies Financial Group raised shares of Nucor from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. BMO Capital Markets raised shares of Nucor from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $140.00 to $145.00 in a research report on Monday, June 2nd. Finally, UBS Group lowered their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $156.20.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 7,200 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $146.00, for a total value of $1,051,200.00. Following the sale, the executive vice president owned 92,179 shares of the company's stock, valued at $13,458,134. The trade was a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael D. Keller sold 6,088 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total transaction of $903,520.08. Following the transaction, the insider directly owned 22,464 shares of the company's stock, valued at approximately $3,333,882.24. This represents a 21.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,309 shares of company stock worth $4,553,771. 0.46% of the stock is currently owned by company insiders.

Nucor Stock Performance

NYSE NUE opened at $134.97 on Friday. The company's 50 day moving average is $142.59 and its 200-day moving average is $128.74. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The firm has a market cap of $30.98 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 0.94 and a beta of 1.76.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.47 billion. During the same quarter in the previous year, the firm posted $2.68 earnings per share. The company's quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. Nucor's payout ratio is 39.71%.

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.

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