Touchstone Capital Inc. Has $4.01 Million Holdings in Nucor Co. (NYSE:NUE)

Touchstone Capital Inc. boosted its holdings in Nucor Co. (NYSE:NUE) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,697 shares of the basic materials company’s stock after buying an additional 1,615 shares during the period. Nucor makes up about 6.1% of Touchstone Capital Inc.’s investment portfolio, making the stock its 7th largest position. Touchstone Capital Inc.’s holdings in Nucor were worth $4,014,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. McClarren Financial Advisors Inc. increased its stake in Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 89 shares during the period. Rise Advisors LLC acquired a new position in shares of Nucor in the first quarter valued at $27,000. Chilton Capital Management LLC lifted its position in Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 65 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Nucor during the first quarter worth $28,000. Finally, Tompkins Financial Corp increased its holdings in Nucor by 208.0% in 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. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Price Performance

Shares of NUE traded up $1.23 during mid-day trading on Wednesday, hitting $152.87. 230,408 shares of the company traded hands, compared to its average volume of 1,458,175. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $36.65 billion, a price-to-earnings ratio of 9.01 and a beta of 1.55. The business has a 50-day moving average of $146.75 and a 200 day moving average of $161.11. Nucor Co. has a one year low of $133.42 and a one year high of $203.00.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.31 by $0.37. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period last year, the firm earned $5.81 EPS. As a group, equities analysts expect that Nucor Co. will post 9.1 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 12.71%.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NUE. Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets cut their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Morgan Stanley decreased their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their target price on Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Finally, Bank of America dropped their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Nucor has an average rating of “Moderate Buy” and a consensus target price of $191.43.

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.