Sage Mountain Advisors LLC Makes New $208,000 Investment in Nucor Co. (NYSE:NUE)

Sage Mountain Advisors LLC bought a new position in shares of Nucor Co. (NYSE:NUE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,193 shares of the basic materials company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SVB Wealth LLC boosted its holdings in Nucor by 1.5% during the fourth quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock worth $636,000 after buying an additional 54 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its holdings in Nucor by 36.6% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after buying an additional 59 shares during the last quarter. Center for Financial Planning Inc. boosted its holdings in Nucor by 7.9% during the fourth quarter. Center for Financial Planning Inc. now owns 822 shares of the basic materials company’s stock worth $143,000 after buying an additional 60 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Nucor by 1.7% during the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 4,168 shares of the basic materials company’s stock valued at $652,000 after purchasing an additional 68 shares in the last quarter. Finally, Alps Advisors Inc. lifted its holdings in shares of Nucor by 3.5% during the 3rd quarter. Alps Advisors Inc. now owns 2,066 shares of the basic materials company’s stock valued at $323,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NUE. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. JPMorgan Chase & Co. lifted their price objective on Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, UBS Group began coverage on Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $192.83.

Insiders Place Their Bets

In related news, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the transaction, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the sale, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The disclosure for this sale can be found here. Insiders have sold 38,151 shares of company stock valued at $7,308,683 in the last 90 days. 0.64% of the stock is currently owned by insiders.

Nucor Trading Down 8.9 %

NYSE NUE opened at $174.64 on Wednesday. The stock has a market capitalization of $41.91 billion, a price-to-earnings ratio of 10.27 and a beta of 1.61. The stock’s 50 day moving average price is $191.20 and its two-hundred day moving average price is $174.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. Nucor Co. has a 52 week low of $129.79 and a 52 week high of $203.00.

Nucor (NYSE:NUE) last released its earnings results on Tuesday, April 23rd. The basic materials company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.62 by ($0.16). The firm had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.67%. The company’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.45 EPS. As a group, analysts anticipate that Nucor Co. will post 12.93 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s payout ratio is 12.71%.

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.