Nucor Co. (NYSE:NUE) Shares Bought by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its stake in shares of Nucor Co. (NYSE:NUE) by 51.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,093 shares of the basic materials company’s stock after buying an additional 370 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Nucor were worth $128,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NUE. Widmann Financial Services Inc. boosted its stake in shares of Nucor by 4.0% during the 3rd quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company’s stock worth $271,000 after acquiring an additional 70 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in Nucor by 1.7% during the third quarter. Citizens Financial Group Inc. RI now owns 4,629 shares of the basic materials company’s stock worth $696,000 after purchasing an additional 79 shares during the last quarter. TCI Wealth Advisors Inc. raised its holdings in Nucor by 4.4% during the fourth quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company’s stock worth $252,000 after purchasing an additional 91 shares during the last quarter. Jessup Wealth Management Inc boosted its position in Nucor by 0.9% during the fourth quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company’s stock worth $1,229,000 after purchasing an additional 93 shares in the last quarter. Finally, Redwood Investment Management LLC grew its holdings in Nucor by 1.0% in the third quarter. Redwood Investment Management LLC now owns 9,092 shares of the basic materials company’s stock valued at $1,365,000 after purchasing an additional 94 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Price Performance

NUE stock opened at $129.49 on Tuesday. The stock has a market capitalization of $29.85 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The stock’s fifty day simple moving average is $129.93 and its 200-day simple moving average is $138.27. Nucor Co. has a 52-week low of $112.25 and a 52-week 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.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 last year, the company posted $3.16 EPS. Equities research analysts expect that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s payout ratio is currently 26.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NUE shares. Citigroup decreased their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. increased their price target on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. The Goldman Sachs Group assumed coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective for the company. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group boosted their price target on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Four 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.33.

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.