Kingsview Wealth Management LLC Purchases 2,983 Shares of Nucor Co. (NYSE:NUE)

Kingsview Wealth Management LLC boosted its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 74.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,015 shares of the basic materials company's stock after purchasing an additional 2,983 shares during the period. Kingsview Wealth Management LLC's holdings in Nucor were worth $819,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its position in shares of Nucor by 1,060.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,390 shares of the basic materials company's stock worth $359,000 after buying an additional 2,184 shares during the last quarter. Creative Planning lifted its position in Nucor by 0.8% in the 3rd quarter. Creative Planning now owns 109,174 shares of the basic materials company's stock valued at $16,413,000 after purchasing an additional 822 shares during the last quarter. Swedbank AB increased its stake in Nucor by 14.0% during the 3rd quarter. Swedbank AB now owns 209,925 shares of the basic materials company's stock valued at $31,560,000 after buying an additional 25,744 shares during the period. Sumitomo Life Insurance Co. increased its stake in Nucor by 3.0% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,480 shares of the basic materials company's stock valued at $974,000 after buying an additional 189 shares during the period. Finally, Touchstone Capital Inc. increased its stake in Nucor by 6.4% during the 3rd quarter. Touchstone Capital Inc. now owns 26,697 shares of the basic materials company's stock valued at $4,014,000 after buying an additional 1,615 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Trading Up 1.6 %

Shares of Nucor stock traded up $2.20 during trading on Friday, hitting $137.75. The stock had a trading volume of 2,108,211 shares, compared to its average volume of 2,773,291. The stock has a 50 day simple moving average of $124.89 and a 200 day simple moving average of $140.34. The company has a market capitalization of $32.34 billion, a PE ratio of 16.38 and a beta of 1.60. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the previous year, the company earned $3.16 earnings per share. On average, research analysts expect that Nucor Co. will post 7.88 EPS for the current fiscal year.

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st were paid a $0.55 dividend. The ex-dividend date was Tuesday, December 31st. This is a boost from Nucor's previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 1.60%. Nucor's payout ratio is 26.16%.

Wall Street Analyst Weigh In

NUE has been the topic of several recent research reports. Citigroup lowered their price objective on shares of Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Jefferies Financial Group lifted their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price objective on shares of Nucor from $152.00 to $150.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. UBS Group reaffirmed 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, StockNews.com raised shares of Nucor from a "sell" rating to a "hold" rating in a research note on Wednesday. Four 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $163.13.

About Nucor

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.