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, 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.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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