Catalina Capital Group LLC Increases Stock Holdings in Nucor Co. (NYSE:NUE)

Catalina Capital Group LLC increased its holdings in shares of Nucor Co. (NYSE:NUEFree Report) by 45.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,320 shares of the basic materials company’s stock after acquiring an additional 725 shares during the period. Catalina Capital Group LLC’s holdings in Nucor were worth $459,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alps Advisors Inc. lifted its holdings in Nucor by 3.5% in the 3rd quarter. Alps Advisors Inc. now owns 2,066 shares of the basic materials company’s stock valued at $323,000 after purchasing an additional 69 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Nucor by 17.3% in the 3rd quarter. Harbour Investments Inc. now owns 2,596 shares of the basic materials company’s stock valued at $406,000 after purchasing an additional 382 shares in the last quarter. Creative Planning lifted its holdings in Nucor by 60.1% in the 3rd quarter. Creative Planning now owns 172,440 shares of the basic materials company’s stock valued at $26,961,000 after purchasing an additional 64,716 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in Nucor by 18.1% in the 3rd quarter. Integrated Advisors Network LLC now owns 2,071 shares of the basic materials company’s stock valued at $324,000 after purchasing an additional 318 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in Nucor by 3.1% in the 3rd quarter. Diversified Trust Co now owns 5,290 shares of the basic materials company’s stock valued at $827,000 after purchasing an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of research reports. Bank of America decreased their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. BMO Capital Markets reduced their price target on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a report on Monday, June 17th. Jefferies Financial Group assumed coverage on Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price target on Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a report on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $189.50.

Read Our Latest Research Report on NUE

Nucor Trading Up 2.1 %

Shares of NYSE:NUE traded up $3.10 during midday trading on Wednesday, reaching $153.35. 1,422,229 shares of the company’s stock were exchanged, compared to its average volume of 1,461,585. The firm’s 50 day simple moving average is $163.44 and its two-hundred day simple moving average is $176.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48. The stock has a market cap of $36.77 billion, a price-to-earnings ratio of 9.02 and a beta of 1.57. Nucor Co. has a fifty-two week low of $140.07 and a fifty-two week high of $203.00.

Nucor (NYSE:NUEGet Free Report) 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). The business had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $4.45 earnings per share. As a group, sell-side analysts forecast that Nucor Co. will post 10.84 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, June 28th. Nucor’s dividend payout ratio is currently 12.71%.

About Nucor

(Free Report)

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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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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