Csenge Advisory Group Sells 1,033 Shares of Nucor Co. (NYSE:NUE)

Csenge Advisory Group lowered its position in shares of Nucor Co. (NYSE:NUE) by 48.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,116 shares of the basic materials company’s stock after selling 1,033 shares during the period. Csenge Advisory Group’s holdings in Nucor were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Criterion Capital Advisors LLC purchased a new position in shares of Nucor during the fourth quarter valued at approximately $25,000. Rise Advisors LLC purchased a new stake in Nucor during the 1st quarter valued at $27,000. Central Pacific Bank Trust Division bought a new position in shares of Nucor during the 1st quarter valued at $28,000. Tompkins Financial Corp lifted its holdings in shares of Nucor by 208.0% during the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after buying an additional 104 shares during the period. Finally, Salomon & Ludwin LLC purchased a new position in shares of Nucor in the 1st quarter worth $31,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Performance

Shares of NYSE NUE opened at $158.96 on Friday. The stock has a market cap of $38.11 billion, a PE ratio of 9.35 and a beta of 1.57. Nucor Co. has a 1 year low of $140.07 and a 1 year high of $203.00. The firm has a fifty day moving average price of $162.90 and a 200-day moving average price of $176.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $8.26 billion. During the same quarter in the previous year, the company posted $4.45 EPS. The company’s quarterly revenue was down 6.6% on a year-over-year basis. Equities analysts anticipate that Nucor Co. will post 10.84 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be issued a $0.54 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a yield of 1.36%. Nucor’s dividend payout ratio is presently 12.71%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 11th. Bank of America cut their target price 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. Jefferies Financial Group began coverage on shares of Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 target price for the company. Finally, BMO Capital Markets dropped their price target 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Nucor has a consensus rating of “Hold” and an average price target of $192.71.

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.