Nucor Co. (NYSE:NUE) Stake Lifted by Pathstone Family Office LLC

Pathstone Family Office LLC grew its stake in shares of Nucor Co. (NYSE:NUEFree Report) by 268.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,419 shares of the basic materials company’s stock after acquiring an additional 10,506 shares during the quarter. Pathstone Family Office LLC’s holdings in Nucor were worth $2,255,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NUE. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Nucor in the 3rd quarter worth about $25,000. Providence Capital Advisors LLC lifted its stake in Nucor by 15,470.4% in the 1st quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 4,177 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Nucor in the 1st quarter worth about $32,000. VisionPoint Advisory Group LLC purchased a new stake in Nucor in the 2nd quarter worth about $39,000. Finally, OFI Invest Asset Management purchased a new stake in Nucor in the 3rd quarter worth about $40,000. 77.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NUE shares. StockNews.com raised Nucor from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. UBS Group assumed coverage on Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Nucor from $151.00 to $158.00 and gave the company a “neutral” rating in a report on Tuesday, December 12th. Finally, Morgan Stanley reduced their price target on Nucor from $162.00 to $154.00 and set an “equal weight” rating for the company in a report on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Nucor currently has an average rating of “Hold” and a consensus target price of $174.43.

Get Our Latest Stock Report on Nucor

Insider Activity

In related news, COO David A. Sumoski sold 28,768 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $175.01, for a total value of $5,034,687.68. Following the sale, the chief operating officer now owns 200,638 shares of the company’s stock, valued at approximately $35,113,656.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO David A. Sumoski sold 28,768 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $175.01, for a total value of $5,034,687.68. Following the sale, the chief operating officer now owns 200,638 shares of the company’s stock, valued at approximately $35,113,656.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nicholas C. Gangestad purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was bought at an average cost of $176.61 per share, for a total transaction of $176,610.00. Following the purchase, the director now owns 1,000 shares in the company, valued at $176,610. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 77,330 shares of company stock worth $13,672,548. Company insiders own 0.46% of the company’s stock.

Nucor Stock Performance

Shares of NYSE NUE opened at $186.54 on Friday. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $173.81 and its two-hundred day moving average is $164.53. The company has a market cap of $45.86 billion, a P/E ratio of 10.37 and a beta of 1.61. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $190.96.

Nucor (NYSE:NUEGet Free Report) last issued its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 EPS for the quarter, topping the consensus estimate of $2.83 by $0.33. The company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.64 billion. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $4.89 EPS. On average, equities analysts expect that Nucor Co. will post 12.53 EPS for the current year.

Nucor Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, December 29th were given a dividend of $0.54 per share. The ex-dividend date was Thursday, December 28th. This is a boost from Nucor’s previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.16%. Nucor’s payout ratio is currently 12.01%.

Nucor Profile

(Free Report)

Nucor Corporation engages in manufacture and sale of steel and steel products. The company's 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; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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