Modern Wealth Management LLC Has $347,000 Stake in Nucor Co. (NYSE:NUE)

Modern Wealth Management LLC boosted its holdings in shares of Nucor Co. (NYSE:NUE) by 70.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,976 shares of the basic materials company’s stock after acquiring an additional 1,234 shares during the quarter. Modern Wealth Management LLC’s holdings in Nucor were worth $347,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Nucor by 2.9% in the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock valued at $1,724,117,000 after purchasing an additional 326,181 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of Nucor during the 4th quarter valued at about $565,000. Geode Capital Management LLC raised its stake in shares of Nucor by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after acquiring an additional 74,569 shares in the last quarter. InvesTrust acquired a new stake in Nucor in the 4th quarter worth approximately $4,388,000. Finally, Wellington Management Group LLP grew its holdings in Nucor by 15.8% during the third quarter. Wellington Management Group LLP now owns 249,984 shares of the basic materials company’s stock valued at $37,583,000 after purchasing an additional 34,149 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Up 0.2 %

NUE opened at $127.57 on Friday. The company has a market capitalization of $29.41 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.96 and a beta of 1.58. 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 firm’s fifty day moving average price is $131.03 and its two-hundred day moving average price is $137.42. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00.

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

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is 26.16%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NUE shares. Citigroup decreased their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Jefferies Financial Group lifted their price objective on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group initiated coverage on Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 target price for the company. JPMorgan Chase & Co. upped their price target on Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Finally, Argus set a $155.00 price objective on Nucor in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and an average target price of $164.78.

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.