Delta Financial Advisors LLC Boosts Position in Nucor Co. (NYSE:NUE)
Delta Financial Advisors LLC raised its stake in shares of Nucor Co. (NYSE:NUE) by 0.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,523 shares of the basic materials company’s stock after buying an additional 305 shares during the quarter. Delta Financial Advisors LLC’s holdings in Nucor were worth $2,506,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Venturi Wealth Management LLC bought a new stake in Nucor in the 3rd quarter valued at $32,000. Optimum Investment Advisors increased its position in Nucor by 85.7% during the 3rd quarter. Optimum Investment Advisors now owns 650 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 300 shares during the period. Quest Capital Management Inc. ADV acquired a new stake in Nucor during the 3rd quarter valued at approximately $44,000. TRUE Private Wealth Advisors acquired a new stake in Nucor during the 4th quarter valued at approximately $45,000. Finally, Kistler Tiffany Companies LLC acquired a new stake in Nucor during the 3rd quarter valued at approximately $46,000. 78.34% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Exane BNP Paribas assumed coverage on shares of Nucor in a research report on Thursday, November 14th. They set an “outperform” rating and a $71.00 target price for the company. KeyCorp restated a “buy” rating and set a $62.00 target price (up previously from $60.00) on shares of Nucor in a report on Wednesday, November 13th. Deutsche Bank downgraded Nucor from a “hold” rating to a “sell” rating in a report on Wednesday, January 29th. Credit Suisse Group decreased their target price on Nucor from $61.00 to $57.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Finally, BNP Paribas started coverage on Nucor in a report on Thursday, November 14th. They set a “buy” rating and a $71.00 target price for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $58.70.
Nucor (NYSE:NUE) last issued its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.21. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.01 billion. Nucor had a return on equity of 12.12% and a net margin of 5.63%. Nucor’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same period last year, the company earned $2.07 EPS. On average, analysts anticipate that Nucor Co. will post 3.93 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st were issued a $0.4025 dividend. The ex-dividend date was Monday, December 30th. This is an increase from Nucor’s previous quarterly dividend of $0.40. This represents a $1.61 dividend on an annualized basis and a dividend yield of 3.36%. Nucor’s dividend payout ratio (DPR) is currently 37.35%.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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