Nucor Co. (NYSE:NUE) Holdings Raised by Modern Wealth Management LLC

Modern Wealth Management LLC boosted its stake in Nucor Co. (NYSE:NUE) by 70.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,976 shares of the basic materials company’s stock after buying an additional 1,234 shares during the period. Modern Wealth Management LLC’s holdings in Nucor were worth $347,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Nordea Investment Management AB boosted its holdings in shares of Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after acquiring an additional 358,721 shares in the last quarter. Raymond James Financial Inc. bought a new position in Nucor during the 4th quarter valued at $38,714,000. State Street Corp boosted its stake in Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock valued at $1,724,117,000 after purchasing an additional 326,181 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Nucor during the 3rd quarter valued at $46,731,000. Finally, OFI Invest Asset Management bought a new stake in shares of Nucor in the 4th quarter worth $25,906,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Price Performance

NUE opened at $127.57 on Friday. Nucor Co. has a 12-month low of $112.25 and a 12-month 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 has a market capitalization of $29.41 billion, a P/E ratio of 15.17, a PEG ratio of 0.96 and a beta of 1.58. The stock has a fifty day moving average of $131.03 and a 200-day moving average of $137.42.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping 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 posted $3.16 earnings per share. Equities analysts forecast 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 paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.72%. Nucor’s dividend payout ratio is presently 26.16%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NUE. Jefferies Financial Group raised their target price on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group began coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective for the company. Morgan Stanley boosted their target price on shares of Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Citigroup reduced their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.78.

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.