Tidal Investments LLC Has $5.49 Million Position in Nucor Co. (NYSE:NUE)

Tidal Investments LLC boosted its stake in Nucor Co. (NYSE:NUE) by 9.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 36,493 shares of the basic materials company’s stock after acquiring an additional 3,197 shares during the quarter. Tidal Investments LLC’s holdings in Nucor were worth $5,486,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NUE. McClarren Financial Advisors Inc. boosted its holdings in shares of Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 89 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Nucor during the third quarter valued at about $26,000. Coastline Trust Co acquired a new stake in shares of Nucor during the third quarter valued at about $29,000. Brown Lisle Cummings Inc. bought a new stake in shares of Nucor during the third quarter worth about $30,000. Finally, Salomon & Ludwin LLC increased its stake in shares of Nucor by 45.6% in the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the transaction, the chief financial officer now directly owns 82,132 shares in the company, valued at $13,923,837.96. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the sale, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,680 shares of company stock valued at $4,773,724. Company insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NUE. UBS Group reissued a “neutral” rating and set a $156.00 target price (down from $171.00) on shares of Nucor in a report on Thursday. The Goldman Sachs Group began coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price for the company. JPMorgan Chase & Co. reduced their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Morgan Stanley reduced their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.75.

Nucor Price Performance

Nucor stock opened at $125.24 on Friday. The stock has a market capitalization of $29.41 billion, a price-to-earnings ratio of 12.10 and a beta of 1.55. Nucor Co. has a 52-week low of $125.00 and a 52-week high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The stock’s 50 day moving average price is $149.13 and its two-hundred day moving average price is $151.51.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.09. The firm 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%. The business’s revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.57 earnings per share. On average, equities analysts predict that Nucor Co. will post 8.5 earnings per share for the current year.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.20 annualized dividend and a yield of 1.76%. This is a positive change from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is presently 20.87%.

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.