Sprott Inc. Boosts Stock Position in Nucor Co. (NYSE:NUE)

Sprott Inc. raised its holdings in Nucor Co. (NYSE:NUE) by 8.5% in the fourth quarter, Holdings Channel reports. The firm owned 194,349 shares of the basic materials company’s stock after purchasing an additional 15,200 shares during the period. Nucor accounts for 1.3% of Sprott Inc.’s investment portfolio, making the stock its 23rd largest holding. Sprott Inc.’s holdings in Nucor were worth $22,682,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Private Advisor Group LLC grew its position in Nucor by 5.1% during the third quarter. Private Advisor Group LLC now owns 18,349 shares of the basic materials company’s stock valued at $2,759,000 after buying an additional 888 shares during the period. Assenagon Asset Management S.A. boosted its stake in Nucor by 16.7% in the third quarter. Assenagon Asset Management S.A. now owns 24,436 shares of the basic materials company’s stock valued at $3,674,000 after acquiring an additional 3,491 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Nucor by 18.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,555 shares of the basic materials company’s stock valued at $2,936,000 after acquiring an additional 3,093 shares during the period. Arkadios Wealth Advisors increased its stake in shares of Nucor by 11.9% during the 3rd quarter. Arkadios Wealth Advisors now owns 2,912 shares of the basic materials company’s stock worth $438,000 after purchasing an additional 310 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Nucor by 0.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 61,023 shares of the basic materials company’s stock worth $9,174,000 after purchasing an additional 257 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Down 0.1 %

Shares of NYSE NUE opened at $136.01 on Wednesday. The business has a 50-day simple moving average of $125.74 and a two-hundred day simple moving average of $139.65. Nucor Co. has a 52 week low of $112.25 and a 52 week high of $203.00. The company has a market cap of $31.94 billion, a P/E ratio of 16.17, a P/E/G ratio of 0.96 and a beta of 1.60. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 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 period last year, the company earned $3.16 earnings per share. Research analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.62%. Nucor’s dividend payout ratio (DPR) is currently 26.16%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group began coverage on Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective for the company. JPMorgan Chase & Co. cut their price target on Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. UBS Group reaffirmed a “neutral” rating and set a $156.00 price objective (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Finally, 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 research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.13.

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.