Investors Research Corp Invests $190,000 in Nucor Co. (NUE)

Investors Research Corp purchased a new stake in Nucor Co. (NYSE:NUE) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,255 shares of the basic materials company’s stock, valued at approximately $190,000.

Other hedge funds have also added to or reduced their stakes in the company. BOKF NA raised its position in Nucor by 8.8% in the 4th quarter. BOKF NA now owns 8,097 shares of the basic materials company’s stock valued at $420,000 after purchasing an additional 656 shares during the last quarter. Empowered Funds LLC purchased a new stake in Nucor in the 4th quarter valued at $2,054,000. State of Alaska Department of Revenue raised its position in Nucor by 16.6% in the 4th quarter. State of Alaska Department of Revenue now owns 60,149 shares of the basic materials company’s stock valued at $3,115,000 after purchasing an additional 8,573 shares during the last quarter. Oakbrook Investments LLC raised its position in Nucor by 77.1% in the 1st quarter. Oakbrook Investments LLC now owns 28,620 shares of the basic materials company’s stock valued at $1,670,000 after purchasing an additional 12,460 shares during the last quarter. Finally, MU Investments Co. Ltd. purchased a new stake in Nucor in the 4th quarter valued at $5,079,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Shares of Nucor stock opened at $58.62 on Wednesday. The firm has a market cap of $17.52 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 0.81 and a beta of 1.50. The company has a quick ratio of 1.45, a current ratio of 3.08 and a debt-to-equity ratio of 0.41. Nucor Co. has a one year low of $49.79 and a one year high of $68.84.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.05. The company had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $6.05 billion. Nucor had a net margin of 9.42% and a return on equity of 24.57%. Nucor’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 EPS. On average, equities research analysts forecast that Nucor Co. will post 5.89 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, March 29th will be issued a $0.40 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. Nucor’s dividend payout ratio is presently 21.00%.

Several analysts recently commented on NUE shares. ValuEngine downgraded shares of Nucor from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Credit Suisse Group upgraded shares of Nucor from a “neutral” rating to an “outperform” rating in a research report on Tuesday, January 8th. Cowen initiated coverage on shares of Nucor in a research report on Tuesday, January 8th. They issued an “outperform” rating and a $62.00 price target for the company. Zacks Investment Research downgraded shares of Nucor from a “hold” rating to a “strong sell” rating in a research report on Friday, February 1st. Finally, Longbow Research downgraded shares of Nucor from a “buy” rating to a “neutral” rating in a research report on Monday, March 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $70.56.

In other news, Chairman John J. Ferriola sold 87,719 shares of the stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $60.35, for a total value of $5,293,841.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.96% of the company’s stock.

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Nucor Company Profile

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.

Further Reading: Cost of Capital Explained

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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