Fortem Financial Group LLC Invests $578,000 in Nucor Co. (NYSE:NUE)

Fortem Financial Group LLC acquired a new stake in Nucor Co. (NYSE:NUE - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,845 shares of the basic materials company's stock, valued at approximately $578,000.

Several other hedge funds have also added to or reduced their stakes in the business. McClarren Financial Advisors Inc. increased its holdings in shares of Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company's stock worth $25,000 after buying an additional 89 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Nucor in the third quarter worth approximately $26,000. Coastline Trust Co acquired a new stake in Nucor during the 3rd quarter valued at approximately $29,000. Brown Lisle Cummings Inc. bought a new position in Nucor during the 3rd quarter worth approximately $30,000. Finally, Salomon & Ludwin LLC boosted its position in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Price Performance

Shares of NUE traded down $2.12 during trading hours on Wednesday, hitting $138.44. 2,079,584 shares of the stock were exchanged, compared to its average volume of 1,566,543. The company has a market cap of $32.51 billion, a price-to-earnings ratio of 13.58 and a beta of 1.55. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The stock's 50-day moving average price is $150.56 and its two-hundred day moving average price is $152.29. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business's revenue for the quarter was down 15.2% on a year-over-year basis. During the same period last year, the business earned $4.57 earnings per share. Research analysts expect that Nucor Co. will post 8.5 earnings per share for the current year.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.59%. This is an increase from Nucor's previous quarterly dividend of $0.54. Nucor's dividend payout ratio (DPR) is currently 20.87%.

Insider Activity

In other news, EVP Kenneth Rex Query sold 9,000 shares of the business's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the sale, the executive vice president now directly owns 98,770 shares of the company's stock, valued at $14,499,436. The trade was a 8.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,680 shares of company stock valued at $4,773,724. Insiders own 0.64% of the company's stock.

Analyst Upgrades and Downgrades

NUE has been the subject of several recent analyst reports. BMO Capital Markets decreased their target price on Nucor from $175.00 to $160.00 and set a "market perform" rating for the company in a research note on Wednesday, September 18th. Argus raised shares of Nucor to a "strong-buy" rating in a research report on Monday, August 26th. The Goldman Sachs Group assumed coverage on shares of Nucor in a report on Monday, December 2nd. They issued a "buy" rating and a $190.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Nucor from $170.00 to $168.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Finally, Morgan Stanley lowered their price target on shares of Nucor from $170.00 to $166.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Nucor currently has an average rating of "Moderate Buy" and a consensus price target of $190.50.

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.