Nucor Co. (NYSE:NUE) Shares Bought by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC lifted its position in shares of Nucor Co. (NYSE:NUE) by 153.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,813 shares of the basic materials company’s stock after acquiring an additional 5,342 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Nucor were worth $1,029,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Crews Bank & Trust acquired a new stake in Nucor in the fourth quarter valued at $29,000. New Wave Wealth Advisors LLC acquired a new stake in Nucor in the 4th quarter valued at about $33,000. Versant Capital Management Inc increased its holdings in Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 114 shares in the last quarter. Beacon Capital Management LLC raised its position in Nucor by 29.1% during the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in shares of Nucor in the fourth quarter valued at about $50,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Trading Down 6.1 %

NYSE NUE opened at $103.14 on Monday. The company has a market cap of $23.78 billion, a P/E ratio of 12.26, a P/E/G ratio of 0.96 and a beta of 1.67. Nucor Co. has a 12 month low of $95.70 and a 12 month high of $203.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The company has a 50-day moving average of $130.19 and a 200-day moving average of $136.31.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate 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 business earned $3.16 earnings per share. As a group, equities analysts predict that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is currently 26.16%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NUE shares. Citigroup cut their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Argus set a $155.00 price target on Nucor in a report on Wednesday, March 5th. UBS Group raised Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $156.00 to $160.00 in a research note on Monday, March 24th. Morgan Stanley set a $164.00 target price on shares of Nucor in a research note on Monday, March 24th. Finally, StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $164.44.

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.