Graypoint LLC Has $444,000 Stake in Nucor Co. (NYSE:NUE)

Graypoint LLC boosted its holdings in Nucor Co. (NYSE:NUE) by 18.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,552 shares of the basic materials company’s stock after purchasing an additional 404 shares during the quarter. Graypoint LLC’s holdings in Nucor were worth $444,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NUE. Fairfield Bush & CO. acquired a new position in shares of Nucor in the 1st quarter valued at approximately $48,000. Synovus Financial Corp increased its position in Nucor by 150.6% during the 1st quarter. Synovus Financial Corp now owns 7,198 shares of the basic materials company’s stock worth $1,067,000 after purchasing an additional 4,326 shares in the last quarter. Sei Investments Co. increased its position in Nucor by 106.2% during the 1st quarter. Sei Investments Co. now owns 35,889 shares of the basic materials company’s stock worth $5,328,000 after purchasing an additional 18,488 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Nucor during the 1st quarter worth approximately $284,000. Finally, Brighton Jones LLC acquired a new position in Nucor during the 1st quarter worth approximately $222,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NUE has been the subject of a number of research analyst reports. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. StockNews.com raised shares of Nucor from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Finally, UBS Group initiated coverage on shares of Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $186.67.

Nucor Trading Down 1.4 %

NYSE:NUE opened at $194.53 on Monday. The firm’s fifty day moving average is $190.42 and its 200-day moving average is $172.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. Nucor Co. has a 52 week low of $129.79 and a 52 week high of $203.00. The firm has a market cap of $46.68 billion, a P/E ratio of 10.81 and a beta of 1.61.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.33. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.64 billion. During the same period in the prior year, the firm earned $4.89 earnings per share. Nucor’s revenue was down 11.7% on a year-over-year basis. Equities analysts expect that Nucor Co. will post 13 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.11%. Nucor’s payout ratio is 12.01%.

Insiders Place Their Bets

In other Nucor news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the transaction, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael D. Keller sold 3,145 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,151 shares of company stock worth $7,308,683. Insiders own 0.64% 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.