Fortem Financial Group LLC Has $475,000 Stock Position in Nucor Co. (NYSE:NUE)

Fortem Financial Group LLC raised its holdings in shares of Nucor Co. (NYSE:NUE) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,073 shares of the basic materials company’s stock after purchasing an additional 228 shares during the period. Fortem Financial Group LLC’s holdings in Nucor were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. TD Asset Management Inc raised its position in shares of Nucor by 1.6% during the 2nd quarter. TD Asset Management Inc now owns 86,681 shares of the basic materials company’s stock valued at $13,703,000 after acquiring an additional 1,347 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Nucor by 2.3% in the second quarter. Victory Capital Management Inc. now owns 357,385 shares of the basic materials company’s stock valued at $56,495,000 after purchasing an additional 8,205 shares during the last quarter. Private Advisor Group LLC lifted its stake in Nucor by 3.4% in the second quarter. Private Advisor Group LLC now owns 17,461 shares of the basic materials company’s stock valued at $2,760,000 after buying an additional 570 shares during the period. Candriam S.C.A. boosted its holdings in Nucor by 6.8% during the second quarter. Candriam S.C.A. now owns 16,890 shares of the basic materials company’s stock worth $2,670,000 after buying an additional 1,070 shares during the last quarter. Finally, Savant Capital LLC increased its stake in shares of Nucor by 1.3% in the 2nd quarter. Savant Capital LLC now owns 10,468 shares of the basic materials company’s stock valued at $1,655,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Activity

In other news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the sale, the chief financial officer now directly owns 82,132 shares in the company, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares in the company, valued at $14,499,436. This represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NUE has been the topic of several analyst reports. Morgan Stanley cut their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Citigroup reduced their target price on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. BMO Capital Markets lowered their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Jefferies Financial Group decreased their price objective on Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Nucor has an average rating of “Moderate Buy” and a consensus price target of $165.63.

Nucor Stock Performance

NUE stock traded up $4.64 during trading hours on Monday, reaching $120.09. The stock had a trading volume of 1,827,574 shares, compared to its average volume of 1,725,413. The stock has a market capitalization of $28.20 billion, a PE ratio of 11.60 and a beta of 1.60. The stock has a 50-day simple moving average of $139.23 and a 200 day simple moving average of $146.84. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the previous year, the business earned $4.57 earnings per share. The business’s revenue was down 15.2% compared to the same quarter last year. Analysts predict that Nucor Co. will post 8.48 EPS for the current fiscal year.

Nucor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.54. Nucor’s payout ratio is currently 21.26%.

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.