Financial Partners Group LLC Has $2.14 Million Holdings in Nucor Co. (NYSE:NUE)

Financial Partners Group LLC lifted its stake in Nucor Co. (NYSE:NUE) by 55.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,797 shares of the basic materials company’s stock after buying an additional 3,842 shares during the period. Financial Partners Group LLC’s holdings in Nucor were worth $2,137,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NUE. Criterion Capital Advisors LLC acquired a new position in shares of Nucor in the 4th quarter worth approximately $25,000. Rise Advisors LLC acquired a new position in shares of Nucor in the 1st quarter worth approximately $27,000. Tompkins Financial Corp grew its position in Nucor by 208.0% during the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 104 shares during the last quarter. Fortitude Family Office LLC grew its position in Nucor by 54.1% during the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 59 shares during the last quarter. Finally, Valley National Advisers Inc. grew its position in 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 last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Trading Up 2.5 %

NUE traded up $3.90 during mid-day trading on Friday, reaching $158.08. The stock had a trading volume of 3,517,842 shares, compared to its average volume of 1,678,765. The stock has a market capitalization of $37.90 billion, a P/E ratio of 9.30 and a beta of 1.60. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. The firm’s fifty day simple moving average is $166.46 and its two-hundred day simple moving average is $177.87. Nucor Co. has a 52 week low of $140.07 and a 52 week high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The firm had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.45 earnings per share. On average, equities analysts predict that Nucor Co. will post 10.84 EPS for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, June 28th. Nucor’s dividend payout ratio (DPR) is currently 12.71%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BMO Capital Markets decreased their price target on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research report on Monday, June 17th. JPMorgan Chase & Co. decreased their price target on Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 11th. Bank of America decreased their price target on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday. Jefferies Financial Group assumed coverage on Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price target on the stock. Finally, Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $189.67.

Nucor 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.