Proficio Capital Partners LLC Acquires Shares of Nucor Co. (NYSE:NUE)

Proficio Capital Partners LLC recently announced the acquisition of a new position in shares of Nucor Co. (NYSE:NUE) during the fourth quarter. According to their latest filing with the SEC, the fund has purchased 132,399 shares of the steel producer’s stock, amounting to a value of approximately $15,452,000. As per the latest SEC disclosure, Proficio Capital Partners LLC holds about 0.06% of Nucor’s total shares.

In addition to Proficio, several other institutional investors and hedge funds have also adjusted their holdings in Nucor. For instance, Mizuho Securities USA LLC significantly increased its stake by 8,530.1% in the third quarter, now holding 1,595,179 shares, valued at about $239,819,000, after acquiring an additional 1,576,695 shares. Pacer Advisors Inc. raised its position by 19.8%, bringing their total ownership to 3,456,484 shares worth $519,648,000, having purchased an extra 571,682 shares during the same period.

Ceredex Value Advisors LLC is another investor that acquired a new position, valued at approximately $74,829,000. Furthermore, Nordea Investment Management AB increased its holdings by 25.6% during the fourth quarter and now owns 1,758,753 shares valued at $205,282,000, following an acquisition of 358,721 shares. State Street Corp also raised its stake by 2.9% in the third quarter, currently owning 11,427,899 shares valued at $1,724,117,000 after a purchase of 326,181 shares. Overall, institutional investors own approximately 76.48% of Nucor’s stock.

Nucor Stock Performance

On Friday, shares of Nucor opened at $137.52. The company’s current financial ratios include a current ratio of 2.51, a quick ratio of 1.48, and a debt-to-equity ratio of 0.27. Nucor boasts a market cap of $32.29 billion, a price-to-earnings (P/E) ratio of 16.35, and a price-to-earnings growth (P/E/G) ratio of 0.96, with a beta of 1.60. The company's stock has a 50-day moving average of $126.86 and a 200-day moving average of $139.53. Over the past year, Nucor has seen a low of $112.25 and a high of $203.00.

Earnings Report and Dividends

Nucor Co. recently reported its quarterly earnings results on January 27th, announcing earnings per share (EPS) of $1.22. This figure surpassed the consensus estimate of $0.94 by $0.28. The company noted a return on equity of 9.85% and a net margin of 6.60%. For comparison, in the same quarter last year, Nucor reported an EPS of $3.16. Analysts predict that the company will post an EPS of 7.64 for the current year.

Additionally, Nucor declared a quarterly dividend, which is scheduled to be paid on May 12th. Shareholders of record by March 31st will receive a dividend of $0.55 per share, making the annualized dividend $2.20, which reflects a dividend yield of 1.60%. Currently, Nucor's dividend payout ratio stands at 26.16%.

Analyst Ratings and Future Outlook

A number of equity analysts have weighed in on Nucor’s shares recently. Morgan Stanley revised its price target from $166.00 to $154.00 while maintaining an "overweight" rating. Jefferies Financial Group raised its target from $125.00 to $135.00, suggesting a "hold" rating. Citigroup revised its target down from $240.00 to $160.00 while also rating the stock as a "buy." UBS Group reaffirmed a "neutral" rating with a price objective decreased from $171.00 to $156.00. StockNews.com upgraded Nucor from a "sell" to a "hold" rating. Currently, four analysts rate the stock as a hold, five as a buy, and one as a strong buy, resulting in an average rating of "Moderate Buy" and a price target of $163.13.

Nucor Company Profile

Nucor Corporation is engaged in the manufacture and sale of steel and steel products. The company operates across three primary segments: steel mills, steel products, and raw materials. The Steel Mills segment is responsible for producing various steel products, including hot-rolled, cold-rolled, and galvanized sheet products, as well as beams and bar steel products.

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