HighTower Advisors LLC Buys 5,385 Shares of Nucor Co. (NYSE:NUE)

by · The Cerbat Gem

HighTower Advisors LLC increased its stake in Nucor Co. (NYSE:NUE – Free Report) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,202 shares of the basic materials company’s stock after acquiring an additional 5,385 shares during the period. HighTower Advisors LLC’s holdings in Nucor were worth $7,843,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Coastline Trust Co bought a new stake in shares of Nucor in the 3rd quarter valued at about $29,000. Crews Bank & Trust bought a new position in Nucor during the 4th quarter valued at approximately $29,000. New Wave Wealth Advisors LLC bought a new position in Nucor during the 4th quarter valued at approximately $33,000. Versant Capital Management Inc raised its position in 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 last quarter. Finally, Beacon Capital Management LLC raised its position in 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 purchasing an additional 94 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Nucor stock opened at $129.49 on Tuesday. 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 company has a market capitalization of $29.85 billion, a P/E ratio of 15.40, a PEG ratio of 0.96 and a beta of 1.58. The stock’s 50 day moving average is $129.93 and its 200 day moving average is $138.27. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00.

Nucor (NYSE:NUE – Get Free Report) last posted its quarterly 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 in the prior year, the company posted $3.16 EPS. On average, equities research analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

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

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of recent analyst reports. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Morgan Stanley upped their price target on Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Citigroup lowered their price target on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group upped their price target on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, Argus set a $155.00 target price on Nucor in a report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $164.33.

Read Our Latest Research Report on NUE

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.

Further Reading

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