New Age Alpha Advisors LLC purchased a new stake in Nucor Co. (NYSE:NUE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,803 shares of the basic materials company's stock, valued at approximately $1,961,000.
Several other hedge funds and other institutional investors have also modified their holdings of NUE. Crews Bank & Trust bought a new stake in Nucor in the fourth quarter worth approximately $29,000. New Wave Wealth Advisors LLC bought a new stake in shares of Nucor in the fourth quarter valued at about $33,000. Versant Capital Management Inc lifted its position in shares of Nucor by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company's stock worth $35,000 after acquiring an additional 114 shares during the period. Beacon Capital Management LLC boosted its stake in Nucor by 29.1% during the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock worth $49,000 after buying an additional 94 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in Nucor in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 76.48% of the company's stock.
Wall Street Analysts Forecast Growth
NUE has been the subject of a number of recent analyst reports. Morgan Stanley set a $164.00 price target on Nucor in a report on Monday, March 24th. Argus set a $155.00 price objective on shares of Nucor in a report on Wednesday, March 5th. UBS Group raised shares of Nucor from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $156.00 to $160.00 in a research note on Monday, March 24th. Jefferies Financial Group increased their price target on shares of Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Nucor from $150.00 to $156.00 and gave the company an "overweight" rating in a report on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $164.44.
Read Our Latest Research Report on NUE
Nucor Stock Down 9.4 %
Shares of NUE traded down $11.52 during midday trading on Thursday, hitting $111.51. The stock had a trading volume of 2,378,733 shares, compared to its average volume of 2,880,898. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The firm has a market cap of $25.71 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The company has a 50 day simple moving average of $130.82 and a two-hundred day simple moving average of $136.86. Nucor Co. has a twelve month low of $111.44 and a twelve month high of $203.00.
Nucor (NYSE:NUE - Get Free Report) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating the consensus estimate 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 previous year, the business posted $3.16 EPS. On average, analysts anticipate that Nucor Co. will post 7.64 EPS for the current year.
Nucor Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.97%. Nucor's dividend payout ratio (DPR) is presently 26.16%.
About Nucor
(
Free Report)
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.
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