NEXT Financial Group Inc grew its stake in Nucor Co. (NYSE:NUE) by 1,156.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,379 shares of the basic materials company’s stock after purchasing an additional 23,359 shares during the quarter. NEXT Financial Group Inc’s holdings in Nucor were worth $1,437,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of NUE. Stonebridge Capital Advisors LLC bought a new position in Nucor in the second quarter worth about $34,000. Venturi Wealth Management LLC acquired a new stake in shares of Nucor during the 3rd quarter worth approximately $32,000. Optimum Investment Advisors raised its position in shares of Nucor by 85.7% during the 3rd quarter. Optimum Investment Advisors now owns 650 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 300 shares during the period. Quest Capital Management Inc. ADV bought a new stake in shares of Nucor in the 3rd quarter worth approximately $44,000. Finally, Kistler Tiffany Companies LLC bought a new stake in shares of Nucor in the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 78.31% of the company’s stock.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Nucor from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Friday, January 3rd. BNP Paribas began coverage on Nucor in a research report on Thursday, November 14th. They issued a “buy” rating and a $71.00 target price on the stock. Exane BNP Paribas began coverage on Nucor in a research note on Thursday, November 14th. They issued an “outperform” rating and a $71.00 target price on the stock. Longbow Research raised shares of Nucor from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a report on Monday, December 9th. Finally, KeyCorp reissued a “buy” rating and set a $62.00 price target (up previously from $60.00) on shares of Nucor in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $61.20.
NUE opened at $52.36 on Wednesday. The business’s 50 day moving average is $55.57 and its 200-day moving average is $53.45. The stock has a market cap of $16.32 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 1.11 and a beta of 1.63. The company has a current ratio of 3.36, a quick ratio of 1.78 and a debt-to-equity ratio of 0.39. Nucor Co. has a twelve month low of $46.10 and a twelve month high of $62.31.
Nucor (NYSE:NUE) last issued its quarterly earnings data on Tuesday, October 22nd. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Nucor had a return on equity of 16.90% and a net margin of 7.62%. The business had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the company posted $2.33 EPS. The business’s revenue for the quarter was down 19.0% compared to the same quarter last year. As a group, analysts forecast that Nucor Co. will post 4.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.4025 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.61 annualized dividend and a yield of 3.07%. This is an increase from Nucor’s previous quarterly dividend of $0.40. Nucor’s payout ratio is presently 21.13%.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
Featured Story: Price to Earnings Ratio (PE) Basics
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUE).
Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.