Entropy Technologies LP Makes New Investment in Nucor Co. (NYSE:NUE)

Entropy Technologies LP bought a new position in Nucor Co. (NYSE:NUE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 41,100 shares of the basic materials company’s stock, valued at approximately $4,797,000.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Nucor during the 3rd quarter valued at approximately $26,000. Coastline Trust Co acquired a new position in Nucor during the 3rd quarter valued at approximately $29,000. Brown Lisle Cummings Inc. acquired a new position in Nucor during the 3rd quarter valued at approximately $30,000. Salomon & Ludwin LLC boosted its position in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 72 shares during the period. Finally, Crews Bank & Trust acquired a new position in Nucor during the 4th quarter worth $29,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Down 2.3 %

NYSE:NUE opened at $130.18 on Friday. The firm has a market capitalization of $30.57 billion, a price-to-earnings ratio of 15.48 and a beta of 1.60. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average price is $126.21 and its 200 day moving average price is $141.24.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same period in the prior year, the company earned $3.16 EPS. On average, sell-side analysts forecast that Nucor Co. will post 7.88 earnings per share for the current fiscal year.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Tuesday, December 31st. This is an increase from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is 26.16%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NUE shares. StockNews.com lowered Nucor from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley dropped their price objective on Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. UBS Group reissued a “neutral” rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Finally, Citigroup dropped their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and an average price target of $163.13.

Insider Transactions at Nucor

In related news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the transaction, the executive vice president now owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

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.