Fiduciary Financial Group LLC Purchases Shares of 2,182 Nucor Co. (NYSE:NUE)

Fiduciary Financial Group LLC purchased a new position in shares of Nucor Co. (NYSE:NUE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,182 shares of the basic materials company's stock, valued at approximately $239,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Nucor by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company's stock worth $701,255,000 after buying an additional 105,309 shares in the last quarter. Norges Bank purchased a new stake in shares of Nucor during the fourth quarter worth approximately $398,077,000. Invesco Ltd. raised its stake in Nucor by 18.7% in the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock valued at $284,220,000 after purchasing an additional 384,205 shares during the last quarter. First Trust Advisors LP lifted its holdings in 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 valued at $280,627,000 after purchasing an additional 474,274 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Nucor by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company's stock worth $196,127,000 after purchasing an additional 68,252 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NUE shares. The Goldman Sachs Group decreased their price target on shares of Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen downgraded Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Morgan Stanley set a $164.00 price objective on Nucor in a research note on Monday, March 24th. Finally, BMO Capital Markets raised shares of Nucor from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $140.00 to $145.00 in a report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $157.22.

Nucor Trading Up 0.3%

Nucor stock traded up $0.31 during trading on Thursday, hitting $117.44. The company had a trading volume of 617,030 shares, compared to its average volume of 2,194,315. 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 company's 50 day simple moving average is $114.35 and its 200-day simple moving average is $124.26. Nucor Co. has a 1-year low of $97.59 and a 1-year high of $170.52. The stock has a market cap of $27.10 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 0.96 and a beta of 1.68.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. Nucor's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.46 EPS. As a group, analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Monday, June 30th. Nucor's dividend payout ratio is currently 39.15%.

Insider Activity

In related news, CEO Leon J. Topalian sold 34,238 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the sale, the chief executive officer now owns 162,993 shares in the company, valued at $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.46% 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.