Nucor Co. (NYSE:NUE) Stake Reduced by Sanctuary Advisors LLC

Sanctuary Advisors LLC cut its holdings in Nucor Co. (NYSE:NUE - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,977 shares of the basic materials company's stock after selling 2,738 shares during the quarter. Sanctuary Advisors LLC's holdings in Nucor were worth $4,115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Nucor in the third quarter worth about $26,000. Coastline Trust Co acquired a new stake in Nucor during the 3rd quarter worth about $29,000. Crews Bank & Trust acquired a new stake in Nucor during the 4th quarter worth about $29,000. New Wave Wealth Advisors LLC acquired a new stake in Nucor during the 4th quarter worth about $33,000. Finally, Salomon & Ludwin LLC raised its holdings in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock worth $35,000 after buying an additional 72 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NUE. UBS Group restated a "neutral" rating and set a $156.00 price objective (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. Citigroup cut their price objective on Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. StockNews.com upgraded Nucor from a "sell" rating to a "hold" rating in a report on Wednesday, February 12th. Morgan Stanley dropped their target price on Nucor from $166.00 to $154.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Finally, The Goldman Sachs Group initiated coverage on Nucor in a report on Monday, December 2nd. They issued a "buy" rating and a $190.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $163.13.

Nucor Trading Down 3.4 %

Shares of NYSE NUE opened at $135.19 on Friday. The stock has a market cap of $31.74 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 0.96 and a beta of 1.60. The business has a 50 day simple moving average of $125.00 and a 200 day simple moving average of $139.99. Nucor Co. has a 52 week low of $112.25 and a 52 week high of $203.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly 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 earnings per share. On average, research analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.63%. Nucor's payout ratio is 26.16%.

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.

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