Prosperity Consulting Group LLC Invests $238,000 in Nucor Co. (NYSE:NUE)

Prosperity Consulting Group LLC bought a new stake in Nucor Co. (NYSE:NUEFree Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,200 shares of the basic materials company’s stock, valued at approximately $238,000.

A number of other institutional investors have also added to or reduced their stakes in NUE. Criterion Capital Advisors LLC bought a new position in shares of Nucor in the 4th quarter valued at about $25,000. Rise Advisors LLC bought a new position in Nucor during the first quarter worth about $27,000. Tompkins Financial Corp increased its position in Nucor by 208.0% during the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after buying an additional 104 shares during the last quarter. Fortitude Family Office LLC raised its stake in Nucor by 54.1% in the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after buying an additional 59 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in shares of Nucor by 716.7% during the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 172 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on NUE. Bank of America cut their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. BMO Capital Markets lowered their price target on shares of 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 began coverage on Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $189.50.

View Our Latest Research Report on NUE

Nucor Trading Down 1.6 %

Shares of NUE stock opened at $153.84 on Friday. The stock has a 50 day simple moving average of $164.26 and a 200 day simple moving average of $177.22. The stock has a market cap of $36.88 billion, a P/E ratio of 9.05 and a beta of 1.57. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. Nucor Co. has a 1 year low of $140.07 and a 1 year high of $203.00.

Nucor (NYSE:NUEGet Free Report) last released its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.62 by ($0.16). The business had revenue of $8.14 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.45 earnings per share. On average, research analysts predict that Nucor Co. will post 10.84 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Friday, June 28th. Nucor’s dividend payout ratio (DPR) 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.

Featured Stories

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUEFree Report).

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.