Jessup Wealth Management Inc Acquires 93 Shares of Nucor Co. (NYSE:NUE)

Jessup Wealth Management Inc boosted its holdings in shares of Nucor Co. (NYSE:NUE) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,528 shares of the basic materials company’s stock after purchasing an additional 93 shares during the quarter. Jessup Wealth Management Inc’s holdings in Nucor were worth $1,229,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Nucor by 2.9% in the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after buying an additional 326,181 shares in the last quarter. Geode Capital Management LLC increased its holdings in Nucor by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after acquiring an additional 74,569 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Nucor by 19.8% in the 3rd quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock worth $519,648,000 after purchasing an additional 571,682 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Nucor by 25.6% during the 4th quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after purchasing an additional 358,721 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Nucor by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,612,216 shares of the basic materials company’s stock valued at $242,381,000 after purchasing an additional 45,467 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NUE has been the topic of a number of research analyst reports. Morgan Stanley decreased their target price on Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Citigroup lowered their target price on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group boosted their target price on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.13.

Nucor Price Performance

NUE stock opened at $139.85 on Thursday. The stock has a market cap of $32.84 billion, a PE ratio of 16.63, a P/E/G ratio of 0.95 and a beta of 1.60. The company has a 50-day moving average price of $124.79 and a 200 day moving average price of $139.99. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last issued its 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 net margin of 6.60% and a return on equity of 9.85%. During the same quarter last year, the company earned $3.16 earnings per share. Equities research analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

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 1.57%. Nucor’s dividend payout ratio is currently 26.16%.

About Nucor

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.