Nucor Co. (NYSE:NUE) Shares Acquired by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC boosted its stake in Nucor Co. (NYSE:NUE) by 153.9% in the 4th quarter, Holdings Channel reports. The firm owned 8,813 shares of the basic materials company’s stock after buying an additional 5,342 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Nucor were worth $1,029,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NUE. Everence Capital Management Inc. purchased a new stake 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% during the third quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after purchasing an additional 74,569 shares during the period. InvesTrust acquired a new position in shares of Nucor during the fourth quarter worth $4,388,000. Wellington Management Group LLP boosted its stake in shares of Nucor by 15.8% in 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 period. Finally, Stephens Inc. AR grew its holdings in Nucor by 38.0% during the 4th quarter. Stephens Inc. AR now owns 8,455 shares of the basic materials company’s stock valued at $987,000 after purchasing an additional 2,327 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. UBS Group upgraded shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $156.00 to $160.00 in a report on Monday, March 24th. Morgan Stanley set a $164.00 price target on Nucor in a report on Monday, March 24th. Jefferies Financial Group lifted their price objective on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Finally, Citigroup decreased their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.44.

Nucor Stock Performance

Shares of NUE opened at $103.14 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. Nucor Co. has a 12-month low of $95.70 and a 12-month high of $203.00. The business’s fifty day moving average price is $130.19 and its 200 day moving average price is $136.31. The stock has a market capitalization of $23.78 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 0.96 and a beta of 1.67.

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

Nucor Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

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.