Sprott Inc. Increases Position in Nucor Co. (NYSE:NUE)

Sprott Inc. boosted its position in Nucor Co. (NYSE:NUE - Free Report) by 8.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,349 shares of the basic materials company's stock after purchasing an additional 15,200 shares during the period. Nucor comprises 1.3% of Sprott Inc.'s investment portfolio, making the stock its 23rd biggest position. Sprott Inc. owned approximately 0.08% of Nucor worth $22,682,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NUE. Private Advisor Group LLC increased its stake in Nucor by 5.1% in the 3rd quarter. Private Advisor Group LLC now owns 18,349 shares of the basic materials company's stock valued at $2,759,000 after purchasing an additional 888 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Nucor by 16.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 24,436 shares of the basic materials company's stock valued at $3,674,000 after purchasing an additional 3,491 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Nucor by 18.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,555 shares of the basic materials company's stock valued at $2,936,000 after purchasing an additional 3,093 shares in the last quarter. Arkadios Wealth Advisors increased its stake in Nucor by 11.9% in the 3rd quarter. Arkadios Wealth Advisors now owns 2,912 shares of the basic materials company's stock valued at $438,000 after purchasing an additional 310 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Nucor by 0.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 61,023 shares of the basic materials company's stock valued at $9,174,000 after purchasing an additional 257 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Trading Up 2.0 %

Shares of NUE stock traded up $2.71 during mid-day trading on Friday, hitting $137.52. 3,848,134 shares of the company's stock were exchanged, compared to its average volume of 2,777,210. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The stock has a 50-day simple moving average of $126.86 and a two-hundred day simple moving average of $139.55. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The stock has a market cap of $32.29 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.96 and a beta of 1.60.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 in the previous year, the company earned $3.16 EPS. Equities analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.60%. The ex-dividend date is Monday, March 31st. Nucor's dividend payout ratio (DPR) is presently 26.16%.

Wall Street Analyst Weigh In

NUE has been the subject of several research analyst reports. Morgan Stanley dropped their price objective on Nucor from $166.00 to $154.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. StockNews.com upgraded Nucor from a "sell" rating to a "hold" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their target price on Nucor from $152.00 to $150.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. UBS Group reiterated 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. Finally, The Goldman Sachs Group assumed coverage on Nucor in a report on Monday, December 2nd. They set a "buy" rating and a $190.00 target price on the stock. 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $163.13.

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.