EntryPoint Capital LLC Boosts Holdings in Nucor Co. (NYSE:NUE)

EntryPoint Capital LLC grew its holdings in shares of Nucor Co. (NYSE:NUE) by 44.6% during the 1st quarter, HoldingsChannel reports. The fund owned 467 shares of the basic materials company’s stock after acquiring an additional 144 shares during the quarter. EntryPoint Capital LLC’s holdings in Nucor were worth $92,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Nucor in the fourth quarter worth $377,631,000. International Assets Investment Management LLC purchased a new position in shares of Nucor in the fourth quarter worth $108,747,000. Global Assets Advisory LLC purchased a new position in shares of Nucor in the first quarter worth $90,216,000. SG Americas Securities LLC increased its stake in shares of Nucor by 4,453.7% in the first quarter. SG Americas Securities LLC now owns 110,064 shares of the basic materials company’s stock worth $21,782,000 after buying an additional 107,647 shares during the period. Finally, Schroder Investment Management Group increased its stake in shares of Nucor by 16.5% in the fourth quarter. Schroder Investment Management Group now owns 660,514 shares of the basic materials company’s stock worth $114,956,000 after buying an additional 93,471 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Up 3.0 %

Shares of NUE stock traded up $4.65 during mid-day trading on Friday, reaching $161.67. 489,078 shares of the company’s stock traded hands, compared to its average volume of 1,470,866. Nucor Co. has a 12 month low of $140.07 and a 12 month high of $203.00. The company has a market cap of $38.76 billion, a P/E ratio of 9.23 and a beta of 1.57. The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $160.69 and its 200-day moving average price is $175.66.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter in the previous year, the business posted $5.81 EPS. The company’s quarterly revenue was down 15.2% on a year-over-year basis. On average, equities analysts expect that Nucor Co. will post 10.68 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. Investors of record on Friday, June 28th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, June 28th. Nucor’s payout ratio is 12.71%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. 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 research note on Monday, June 17th. Bank of America cut their price target 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. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. 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 price target on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $191.29.

Nucor Company 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.