MV Capital Management Inc. Has $33,000 Stock Holdings in Nucor Co. (NYSE:NUE)

MV Capital Management Inc. decreased its holdings in Nucor Co. (NYSE:NUE) by 69.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 169 shares of the basic materials company’s stock after selling 382 shares during the period. MV Capital Management Inc.’s holdings in Nucor were worth $33,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Cullinan Associates Inc. raised its stake in Nucor by 430.6% in the 1st quarter. Cullinan Associates Inc. now owns 6,367 shares of the basic materials company’s stock worth $1,260,000 after purchasing an additional 5,167 shares in the last quarter. Diversified Trust Co raised its stake in Nucor by 87.6% in the 1st quarter. Diversified Trust Co now owns 10,449 shares of the basic materials company’s stock worth $2,068,000 after purchasing an additional 4,880 shares in the last quarter. Chapin Davis Inc. raised its stake in Nucor by 21.5% in the 1st quarter. Chapin Davis Inc. now owns 2,412 shares of the basic materials company’s stock worth $477,000 after purchasing an additional 426 shares in the last quarter. Successful Portfolios LLC raised its stake in Nucor by 93.8% in the 1st quarter. Successful Portfolios LLC now owns 2,830 shares of the basic materials company’s stock worth $560,000 after purchasing an additional 1,370 shares in the last quarter. Finally, SteelPeak Wealth LLC raised its stake in Nucor by 172.1% in the 1st quarter. SteelPeak Wealth LLC now owns 21,935 shares of the basic materials company’s stock worth $4,353,000 after purchasing an additional 13,875 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Down 0.4 %

NUE opened at $156.43 on Wednesday. Nucor Co. has a fifty-two week low of $140.07 and a fifty-two week high of $203.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48. The firm has a market capitalization of $37.51 billion, a price-to-earnings ratio of 9.20 and a beta of 1.57. The company’s 50 day moving average price is $165.40 and its two-hundred day moving average price is $177.66.

Nucor (NYSE:NUE) last posted its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business had revenue of $8.14 billion for the quarter, compared to the consensus estimate of $8.26 billion. During the same period in the previous year, the firm earned $4.45 earnings per share. The company’s revenue was down 6.6% compared to the same quarter last year. As a group, research analysts predict that Nucor Co. will post 10.84 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, June 28th. Nucor’s payout ratio is 12.71%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research note on Tuesday, June 11th. Bank of America decreased their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. BMO Capital Markets decreased their target price on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a report on Monday, June 17th. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and raised their target price for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, Jefferies Financial Group began 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Nucor currently has a consensus rating of “Hold” and an average price target of $189.67.

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.