SVB Wealth LLC purchased a new position in shares of Nucor Co. (NYSE:NUE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,045 shares of the basic materials company's stock, valued at approximately $239,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in Nucor during the third quarter worth about $26,000. Coastline Trust Co purchased a new stake in shares of Nucor during the third quarter worth approximately $29,000. Crews Bank & Trust purchased a new stake in shares of Nucor during the fourth quarter worth approximately $29,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Nucor during the fourth quarter worth approximately $33,000. Finally, Versant Capital Management Inc increased its stake in shares of Nucor by 60.3% during 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 hedge funds and other institutional investors.
Analysts Set New Price Targets
NUE has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on shares of Nucor in a research note on Monday, December 2nd. They set a "buy" rating and a $190.00 target price on the stock. Jefferies Financial Group upped their target price 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. Citigroup cut their target price 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. UBS Group restated a "neutral" rating and set a $156.00 target price (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Finally, Morgan Stanley cut their target price on shares of Nucor from $166.00 to $154.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, five have issued 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 an average target price of $163.13.
Check Out Our Latest Stock Analysis on Nucor
Nucor Stock Performance
Shares of Nucor stock opened at $132.51 on Thursday. The firm has a market capitalization of $31.11 billion, a P/E ratio of 15.76, a P/E/G ratio of 0.96 and a beta of 1.60. Nucor Co. has a 52 week low of $112.25 and a 52 week high of $203.00. 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 firm's 50 day moving average is $127.75 and its two-hundred day moving average is $139.27.
Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 prior year, the company earned $3.16 earnings per share. Research analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.
Nucor Dividend Announcement
The company also recently disclosed 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. This represents a $2.20 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Monday, March 31st. Nucor's payout ratio is currently 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.
Further Reading
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