4,300 Shares in Nucor Co. (NYSE:NUE) Purchased by Elkhorn Partners Limited Partnership

Elkhorn Partners Limited Partnership acquired a new position in shares of Nucor Co. (NYSE:NUE) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,300 shares of the basic materials company’s stock, valued at approximately $851,000. Nucor makes up 0.6% of Elkhorn Partners Limited Partnership’s holdings, making the stock its 14th largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of NUE. SVB Wealth LLC boosted its stake in Nucor by 1.5% in the fourth quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock valued at $636,000 after acquiring an additional 54 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Nucor by 6.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock valued at $151,000 after buying an additional 54 shares during the last quarter. Kestra Private Wealth Services LLC increased its stake in Nucor by 0.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock valued at $1,252,000 after buying an additional 55 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC increased its stake in Nucor by 36.6% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock valued at $38,000 after buying an additional 59 shares during the last quarter. Finally, Fortitude Family Office LLC increased its stake in Nucor by 54.1% in the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE stock traded up $0.02 during trading hours on Tuesday, hitting $159.43. 826,261 shares of the company were exchanged, compared to its average volume of 1,469,748. The firm has a fifty day simple moving average of $159.98 and a 200 day simple moving average of $175.56. The stock has a market capitalization of $38.22 billion, a price-to-earnings ratio of 9.38 and a beta of 1.57. Nucor Co. has a 52-week low of $140.07 and a 52-week high of $203.00. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The company had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period last year, the firm earned $5.81 EPS. Nucor’s revenue for the quarter was down 15.2% on a year-over-year basis. Research analysts predict that Nucor Co. will post 10.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, June 28th. Nucor’s payout ratio is 12.71%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NUE shares. BMO Capital Markets lowered their price objective on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday, June 17th. JPMorgan Chase & Co. lowered their price objective on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Bank of America decreased their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group assumed coverage on shares of Nucor in a report on Monday, May 20th. They issued a “hold” rating and a $190.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $191.29.

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.