Signaturefd LLC Has $1.02 Million Stock Position in Nucor Corporation (NYSE:NUE)

Signaturefd LLC lifted its position in Nucor Corporation (NYSE:NUE - Free Report) by 49.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,497 shares of the basic materials company's stock after buying an additional 2,821 shares during the quarter. Signaturefd LLC's holdings in Nucor were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Nucor by 1.8% in the fourth 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 during the last quarter. Norges Bank acquired a new position in Nucor during the 4th quarter valued at $398,077,000. Invesco Ltd. raised its stake in Nucor by 18.7% during 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 raised its stake in Nucor by 24.6% during 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 during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Nucor by 7.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,384,590 shares of the basic materials company's stock valued at $161,595,000 after purchasing an additional 96,375 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Trading Down 2.1%

Shares of Nucor stock opened at $138.65 on Wednesday. The firm has a market capitalization of $31.99 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 0.91 and a beta of 1.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.52 and a quick ratio of 1.48. The company's fifty day moving average price is $123.55 and its two-hundred day moving average price is $123.63. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52.

Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a return on equity of 6.82% and a net margin of 4.40%. 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 previous year, the company posted $3.46 EPS. The firm's revenue for the quarter was down 3.8% compared to the same quarter last year. On average, analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The company also recently announced 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 1.59%. The ex-dividend date of this dividend is Monday, June 30th. Nucor's payout ratio is 39.15%.

Insider Transactions at Nucor

In other Nucor news, EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total transaction of $906,342.56. Following the sale, the executive vice president owned 99,379 shares of the company's stock, valued at $12,707,592.73. This represents a 6.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 162,993 shares in the company, valued at approximately $19,590,128.67. This represents a 17.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,326 shares of company stock valued at $6,325,108. 0.71% of the stock is owned by insiders.

Analysts Set New Price Targets

NUE has been the subject of several research analyst reports. UBS Group cut their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and upped their target price for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. Morgan Stanley upped their target price on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Wall Street Zen lowered shares of Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a report on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $152.75.

About Nucor

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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