Woodmont Investment Counsel LLC Cuts Position in Nucor Co. (NYSE:NUE)

Woodmont Investment Counsel LLC cut its holdings in Nucor Co. (NYSE:NUE) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,835 shares of the basic materials company’s stock after selling 183 shares during the period. Woodmont Investment Counsel LLC’s holdings in Nucor were worth $3,134,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. SVB Wealth LLC lifted its holdings in shares of Nucor by 1.5% in the fourth quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock worth $636,000 after buying an additional 54 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Nucor by 6.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock worth $151,000 after buying an additional 54 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Nucor by 0.8% in the fourth quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock worth $1,252,000 after buying an additional 55 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of Nucor by 36.6% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after buying an additional 59 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in shares of Nucor by 54.1% in the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after buying an additional 59 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 11th. Jefferies Financial Group assumed coverage on shares of Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 price target on the stock. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Bank of America reduced their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Finally, StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $189.67.

Nucor Trading Down 0.3 %

NUE stock traded down $0.54 during mid-day trading on Tuesday, reaching $156.46. 588,022 shares of the stock traded hands, compared to its average volume of 1,466,831. The business has a 50-day moving average price of $166.46 and a two-hundred day moving average price of $177.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. The stock has a market capitalization of $37.51 billion, a PE ratio of 9.24 and a beta of 1.57. Nucor Co. has a one year low of $140.07 and a one year high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The company had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.45 earnings per share. Equities research analysts expect that Nucor Co. will post 10.84 EPS for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, June 28th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

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.