Meeder Advisory Services Inc. Sells 810 Shares of Nucor Co. (NYSE:NUE)

by · The Markets Daily

Meeder Advisory Services Inc. lowered its stake in Nucor Co. (NYSE:NUE – Free Report) by 10.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,179 shares of the basic materials company’s stock after selling 810 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Nucor were worth $838,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Crews Bank & Trust bought a new stake in Nucor during the 4th quarter worth approximately $29,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Nucor in the fourth quarter worth $33,000. Versant Capital Management Inc raised its position in shares of Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 114 shares during the period. Beacon Capital Management LLC lifted its stake in shares of Nucor by 29.1% during the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after buying an additional 94 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new position in Nucor in the 4th quarter worth $50,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

View Our Latest Research Report on Nucor

Nucor Trading Down 10.6 %

NYSE:NUE opened at $109.96 on Friday. The stock has a market capitalization of $25.35 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 0.96 and a beta of 1.58. Nucor Co. has a 52 week low of $109.24 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. The firm has a 50 day moving average of $130.57 and a 200 day moving average of $136.67.

Nucor (NYSE:NUE – Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the previous year, the business posted $3.16 earnings per share. As a group, sell-side analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s payout ratio is currently 26.16%.

Nucor Company 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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