Sage Mountain Advisors LLC Takes Position in Nucor Co. (NYSE:NUE)

Sage Mountain Advisors LLC purchased a new stake in Nucor Co. (NYSE:NUEFree Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,193 shares of the basic materials company’s stock, valued at approximately $208,000.

Several other hedge funds also recently made changes to their positions in NUE. SVB Wealth LLC boosted its stake in Nucor by 1.5% during the fourth quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock valued at $636,000 after buying an additional 54 shares during the period. Householder Group Estate & Retirement Specialist LLC lifted its stake 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 purchasing an additional 59 shares during the last quarter. Center for Financial Planning Inc. lifted its stake 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 purchasing an additional 60 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Nucor by 1.7% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 4,168 shares of the basic materials company’s stock worth $652,000 after purchasing an additional 68 shares during the last quarter. Finally, Alps Advisors Inc. lifted its stake in shares of Nucor by 3.5% in the 3rd quarter. Alps Advisors Inc. now owns 2,066 shares of the basic materials company’s stock valued at $323,000 after acquiring an additional 69 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NUE. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, UBS Group initiated coverage on Nucor in a research note on Tuesday, January 16th. They issued a “buy” rating and a $210.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $192.83.

Get Our Latest Stock Analysis on Nucor

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total value of $1,901,900.00. Following the sale, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the transaction, the executive vice president now directly owns 80,902 shares in the company, valued at $15,386,751.38. The disclosure for this sale can be found here. Insiders have sold a total of 38,151 shares of company stock valued at $7,308,683 in the last ninety days. 0.64% of the stock is currently owned by corporate insiders.

Nucor Stock Down 8.9 %

Shares of NYSE:NUE opened at $174.64 on Wednesday. Nucor Co. has a 1 year low of $129.79 and a 1 year high of $203.00. The stock’s 50-day moving average is $191.20 and its 200 day moving average is $174.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35. The company has a market cap of $41.91 billion, a PE ratio of 10.27 and a beta of 1.61.

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

Nucor Dividend Announcement

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

Nucor Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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