Nucor Co. (NYSE:NUE) Stock Position Raised by Blackhawk Capital Partners LLC.

Blackhawk Capital Partners LLC. increased its position in shares of Nucor Co. (NYSE:NUE) by 47.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,679 shares of the basic materials company’s stock after acquiring an additional 1,189 shares during the quarter. Blackhawk Capital Partners LLC.’s holdings in Nucor were worth $553,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NUE. Seven Eight Capital LP acquired a new position in Nucor in the 1st quarter worth about $637,000. Bessemer Group Inc. lifted its holdings in shares of Nucor by 43.3% during the first quarter. Bessemer Group Inc. now owns 21,400 shares of the basic materials company’s stock worth $4,235,000 after buying an additional 6,466 shares during the last quarter. Lake Street Advisors Group LLC increased its holdings in shares of Nucor by 37.1% during the 1st quarter. Lake Street Advisors Group LLC now owns 1,663 shares of the basic materials company’s stock worth $330,000 after purchasing an additional 450 shares during the period. Natixis raised its holdings in Nucor by 1,761.5% in the 1st quarter. Natixis now owns 3,146 shares of the basic materials company’s stock valued at $623,000 after acquiring an additional 2,977 shares in the last quarter. Finally, Crewe Advisors LLC bought a new position in Nucor in the first quarter worth $62,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets dropped their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, Morgan Stanley decreased their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.57.

Insider Buying and Selling at Nucor

In other news, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the sale, the executive vice president now owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the transaction, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock valued at $4,773,724 in the last three months. 0.46% of the stock is currently owned by company insiders.

Nucor Price Performance

NYSE:NUE opened at $148.17 on Thursday. The stock has a market capitalization of $34.79 billion, a PE ratio of 14.32 and a beta of 1.55. The firm has a fifty day simple moving average of $149.32 and a 200 day simple moving average of $154.36. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. Nucor’s revenue was down 15.2% on a year-over-year basis. During the same period last year, the business posted $4.57 EPS. On average, research analysts expect that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, September 27th. Nucor’s payout ratio is presently 20.87%.

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.