Raymond James Financial Inc. Takes Position in Nucor Co. (NYSE:NUE)

Raymond James Financial Inc. bought a new position in Nucor Co. (NYSE:NUE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 331,711 shares of the basic materials company's stock, valued at approximately $38,714,000. Raymond James Financial Inc. owned approximately 0.14% of Nucor at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new position in shares of Nucor during the third quarter valued at approximately $26,000. Coastline Trust Co purchased a new stake in shares of Nucor in the 3rd quarter worth about $29,000. Crews Bank & Trust purchased a new position in shares of Nucor during the fourth quarter valued at about $29,000. New Wave Wealth Advisors LLC bought a new position in Nucor in the fourth quarter worth about $33,000. Finally, Versant Capital Management Inc lifted its holdings in Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company's stock worth $35,000 after buying an additional 114 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NUE has been the subject of several research reports. The Goldman Sachs Group began coverage on Nucor in a research report on Monday, December 2nd. They issued a "buy" rating and a $190.00 target price for the company. UBS Group restated a "neutral" rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. Citigroup lowered their price target on shares of Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group upped their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Nucor from $150.00 to $156.00 and gave the company an "overweight" rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $164.33.

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Nucor Trading Up 1.7 %

NUE stock traded up $2.21 during trading on Friday, hitting $131.77. The company had a trading volume of 1,028,914 shares, compared to its average volume of 1,807,455. The firm has a market capitalization of $30.38 billion, a P/E ratio of 15.67, a PEG ratio of 0.96 and a beta of 1.58. 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 52-week low of $112.25 and a 52-week high of $203.00. The company has a 50 day simple moving average of $129.42 and a 200-day simple moving average of $138.69.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 last year, the business earned $3.16 earnings per share. As a group, research analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.67%. Nucor's dividend payout ratio is currently 26.16%.

Nucor Company 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.