Bonness Enterprises Inc. Cuts Stake in Nucor Co. (NYSE:NUE)

Bonness Enterprises Inc. decreased its position in Nucor Co. (NYSE:NUEFree Report) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,235 shares of the basic materials company’s stock after selling 200 shares during the period. Nucor comprises 1.9% of Bonness Enterprises Inc.’s portfolio, making the stock its 12th largest holding. Bonness Enterprises Inc.’s holdings in Nucor were worth $5,390,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Criterion Capital Advisors LLC purchased a new stake in Nucor during the fourth quarter worth about $25,000. Rise Advisors LLC acquired a new stake in shares of Nucor in the 1st quarter worth approximately $27,000. Tompkins Financial Corp increased its stake in Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares in the last quarter. Fortitude Family Office LLC boosted its position in Nucor by 54.1% during the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 59 shares in the last quarter. Finally, Valley National Advisers Inc. increased its position in shares of Nucor by 716.7% in the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock valued at $34,000 after buying an additional 172 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on NUE. JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 11th. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and increased their target price for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. Jefferies Financial Group began coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 price objective on the stock. BMO Capital Markets dropped their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research report on Monday, June 17th. Finally, StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Nucor currently has an average rating of “Hold” and a consensus price target of $188.38.

Check Out Our Latest Analysis on Nucor

Nucor Trading Down 2.4 %

NYSE NUE traded down $3.81 during trading hours on Tuesday, hitting $151.75. 611,336 shares of the company’s stock were exchanged, compared to its average volume of 1,445,111. 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 has a market capitalization of $36.38 billion, a P/E ratio of 9.15 and a beta of 1.60. The business’s 50 day moving average is $169.43 and its 200-day moving average is $178.14. Nucor Co. has a 12-month low of $140.07 and a 12-month 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 (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The company had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same period in the prior year, the business posted $4.45 earnings per share. Nucor’s revenue was down 6.6% on a year-over-year basis. As a group, analysts anticipate that Nucor Co. will post 11.07 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, June 28th. Nucor’s dividend payout ratio (DPR) is currently 12.71%.

Nucor Company Profile

(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 Articles

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.