Farther Finance Advisors LLC Has $280,000 Stock Position in Nucor Corporation (NYSE:NUE)

Farther Finance Advisors LLC increased its stake in shares of Nucor Corporation (NYSE:NUE) by 25.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,344 shares of the basic materials company’s stock after buying an additional 470 shares during the period. Farther Finance Advisors LLC’s holdings in Nucor were worth $280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Nucor by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company’s stock valued at $701,255,000 after purchasing an additional 105,309 shares during the period. Norges Bank acquired a new position in Nucor during the 4th quarter valued at about $398,077,000. Invesco Ltd. lifted its position in Nucor by 18.7% during the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock valued at $284,220,000 after purchasing an additional 384,205 shares during the period. First Trust Advisors LP raised its position in shares of Nucor by 24.6% in the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company’s stock valued at $280,627,000 after acquiring an additional 474,274 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Nucor by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company’s stock valued at $196,127,000 after acquiring an additional 68,252 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NUE shares. UBS Group cut their price target on shares of Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Wall Street Zen downgraded shares of Nucor from a “hold” rating to a “sell” rating in a report on Wednesday, April 30th. Argus set a $155.00 target price on shares of Nucor in a report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $156.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, Morgan Stanley set a $164.00 target price on shares of Nucor in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and an average target price of $157.22.

Insiders Place Their Bets

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of Nucor stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the transaction, the chief executive officer now directly owns 162,993 shares of the company’s stock, valued at $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.71% of the company’s stock.

Nucor Price Performance

Shares of NUE opened at $122.28 on Wednesday. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $115.51 and a 200-day moving average of $123.13. The stock has a market capitalization of $28.22 billion, a P/E ratio of 21.76, a P/E/G ratio of 0.77 and a beta of 1.67.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a net margin of 4.40% and a return on equity of 6.82%. The firm had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the prior year, the business posted $3.46 earnings per share. Nucor’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be given a dividend of $0.55 per share. The ex-dividend date is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.80%. Nucor’s dividend payout ratio (DPR) is 39.15%.

Nucor Company Profile

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.