SPC Financial Inc. Purchases 154 Shares of Nucor Co. (NYSE:NUE)

SPC Financial Inc. lifted its position in shares of Nucor Co. (NYSE:NUE) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,051 shares of the basic materials company’s stock after purchasing an additional 154 shares during the period. SPC Financial Inc.’s holdings in Nucor were worth $1,361,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NUE. Integrated Advisors Network LLC raised its position in Nucor by 3.4% in the fourth quarter. Integrated Advisors Network LLC now owns 2,141 shares of the basic materials company’s stock worth $373,000 after acquiring an additional 70 shares during the period. EP Wealth Advisors LLC raised its position in Nucor by 33.0% in the fourth quarter. EP Wealth Advisors LLC now owns 1,905 shares of the basic materials company’s stock worth $332,000 after acquiring an additional 473 shares during the period. Wellington Management Group LLP raised its position in Nucor by 188.6% in the fourth quarter. Wellington Management Group LLP now owns 64,537 shares of the basic materials company’s stock worth $11,232,000 after acquiring an additional 42,178 shares during the period. HighPoint Advisor Group LLC bought a new stake in Nucor in the fourth quarter worth about $747,000. Finally, GAMMA Investing LLC raised its position in Nucor by 14.4% in the first quarter. GAMMA Investing LLC now owns 1,840 shares of the basic materials company’s stock worth $364,000 after acquiring an additional 232 shares during the period. Institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on NUE. Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Morgan Stanley reduced their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. BMO Capital Markets reduced their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. reduced their target price on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, Bank of America reduced their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.43.

Nucor Price Performance

NUE stock opened at $154.26 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The stock has a market cap of $36.99 billion, a PE ratio of 9.07 and a beta of 1.55. The firm has a 50 day simple moving average of $146.93 and a two-hundred day simple moving average of $161.06.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter in the previous year, the company earned $5.81 EPS. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, analysts predict that Nucor Co. will post 9.1 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.40%. Nucor’s payout ratio is 12.71%.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the sale, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

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.