Foundry Partners LLC Invests $10.22 Million in Nucor Corporation (NYSE:NUE)

Foundry Partners LLC bought a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 84,935 shares of the basic materials company's stock, valued at approximately $10,221,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Madison Investment Advisors LLC bought a new stake in Nucor in the fourth quarter valued at approximately $252,000. Envestnet Portfolio Solutions Inc. increased its stake in Nucor by 6.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,404 shares of the basic materials company's stock valued at $1,098,000 after purchasing an additional 607 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in Nucor by 2.1% in the fourth quarter. Axxcess Wealth Management LLC now owns 8,643 shares of the basic materials company's stock valued at $1,009,000 after purchasing an additional 175 shares in the last quarter. Generali Asset Management SPA SGR bought a new stake in Nucor in the fourth quarter valued at approximately $1,861,000. Finally, Teacher Retirement System of Texas increased its stake in Nucor by 771.7% in the fourth quarter. Teacher Retirement System of Texas now owns 13,999 shares of the basic materials company's stock valued at $1,634,000 after purchasing an additional 12,393 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Nucor Price Performance

Shares of Nucor stock opened at $140.64 on Friday. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.32. The company has a 50-day simple moving average of $125.02 and a two-hundred day simple moving average of $124.07. The stock has a market capitalization of $32.45 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 0.90 and a beta of 1.70.

Nucor (NYSE:NUE - Get Free Report) last released its earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a net margin of 4.40% and a return on equity of 6.82%. The firm had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the prior year, the business earned $3.46 earnings per share. Nucor's quarterly revenue was down 3.8% compared to the same quarter last year. Analysts forecast that Nucor Corporation 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. Investors of record on Monday, June 30th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, June 30th. Nucor's dividend payout ratio (DPR) is presently 39.15%.

Insider Activity at Nucor

In other news, CEO Leon J. Topalian sold 34,238 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the transaction, the chief executive officer owned 162,993 shares in the company, valued at approximately $19,590,128.67. The trade was a 17.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel R. Needham sold 7,088 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total transaction of $906,342.56. Following the completion of the transaction, the executive vice president owned 99,379 shares in the company, valued at $12,707,592.73. This trade represents a 6.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,326 shares of company stock valued at $6,325,108. 0.46% of the stock is owned by insiders.

Analyst Ratings Changes

NUE has been the subject of several research reports. UBS Group lowered their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Morgan Stanley increased their price objective on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $140.00 to $145.00 in a report on Monday, June 2nd. The Goldman Sachs Group reduced their target price on shares of Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Wall Street Zen cut shares of Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Nucor currently has a consensus rating of "Moderate Buy" and an average price target of $152.75.

Nucor 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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