WealthPLAN Partners LLC increased its holdings in shares of Nucor Co. (NYSE:NUE) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 162,671 shares of the basic materials company’s stock after purchasing an additional 16,028 shares during the quarter. WealthPLAN Partners LLC owned 0.05% of Nucor worth $8,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Marshall Wace North America L.P. bought a new position in shares of Nucor during the first quarter valued at $54,000. NuWave Investment Management LLC lifted its holdings in Nucor by 13,914.3% in the fourth quarter. NuWave Investment Management LLC now owns 981 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 974 shares during the period. Asset Dedication LLC lifted its holdings in Nucor by 114.6% in the fourth quarter. Asset Dedication LLC now owns 983 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 525 shares during the period. Edge Wealth Management LLC bought a new position in Nucor in the fourth quarter valued at about $53,000. Finally, Wolff Wiese Magana LLC bought a new position in Nucor in the fourth quarter valued at about $55,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on NUE. Morgan Stanley began coverage on Nucor in a report on Wednesday, December 9th. They issued an “equal weight” rating and a $60.00 target price on the stock. Credit Suisse Group upgraded Nucor from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $48.00 to $63.00 in a research report on Wednesday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Nucor has an average rating of “Hold” and an average price target of $49.90.
Shares of NUE stock traded up $0.69 on Tuesday, reaching $60.56. 32,231 shares of the company’s stock were exchanged, compared to its average volume of 2,554,511. The company’s fifty day simple moving average is $54.62 and its 200 day simple moving average is $50.87. The stock has a market capitalization of $18.28 billion, a PE ratio of 43.18, a P/E/G ratio of 1.35 and a beta of 1.33. Nucor Co. has a 52 week low of $27.52 and a 52 week high of $60.96. The company has a current ratio of 3.78, a quick ratio of 2.40 and a debt-to-equity ratio of 0.51.
Nucor (NYSE:NUE) last released its quarterly earnings data on Thursday, January 28th. The basic materials company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.22 by $0.08. The company had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.45 billion. Nucor had a return on equity of 7.21% and a net margin of 2.15%. Nucor’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. As a group, sell-side analysts predict that Nucor Co. will post 3.22 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 11th. Shareholders of record on Wednesday, March 31st will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 2.68%. Nucor’s payout ratio is currently 37.59%.
Nucor Corporation manufactures and sells 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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