NorthRock Partners LLC Sells 232 Shares of Nucor Co. (NYSE:NUE)

NorthRock Partners LLC reduced its holdings in shares of Nucor Co. (NYSE:NUE) by 17.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,124 shares of the basic materials company’s stock after selling 232 shares during the period. NorthRock Partners LLC’s holdings in Nucor were worth $222,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SVB Wealth LLC raised its holdings in shares of Nucor by 1.5% in the 4th quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock valued at $636,000 after purchasing an additional 54 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Nucor by 6.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock worth $151,000 after acquiring an additional 54 shares during the period. Kestra Private Wealth Services LLC grew its stake in Nucor by 0.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock valued at $1,252,000 after buying an additional 55 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of Nucor by 36.6% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 59 shares during the period. Finally, Fortitude Family Office LLC increased its position in Nucor by 54.1% during the 1st 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 during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Up 0.6 %

NYSE:NUE traded up $0.95 during trading hours on Tuesday, hitting $165.82. 107,295 shares of the company were exchanged, compared to its average volume of 1,456,084. The company has a fifty day simple moving average of $162.52 and a 200 day simple moving average of $176.36. Nucor Co. has a one year low of $140.07 and a one year high of $203.00. The stock has a market capitalization of $39.76 billion, a price-to-earnings ratio of 9.70 and a beta of 1.57. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31.

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

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, June 28th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Analyst Ratings Changes

Several brokerages have recently commented on NUE. BMO Capital Markets lowered their target price on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a report on Monday, June 17th. JPMorgan Chase & Co. reduced their target price on Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a report on Tuesday, June 11th. Bank of America decreased their price target on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Jefferies Financial Group started coverage on shares of Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective for the company. Finally, StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $192.71.

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.