Clear Harbor Asset Management LLC Invests $407,000 in Nucor Co. (NYSE:NUE)

Clear Harbor Asset Management LLC acquired a new stake in shares of Nucor Co. (NYSE:NUE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,487 shares of the basic materials company’s stock, valued at approximately $407,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Nucor in the 3rd quarter valued at about $26,000. Coastline Trust Co acquired a new stake in Nucor in the third quarter valued at approximately $29,000. Brown Lisle Cummings Inc. purchased a new position in Nucor in the third quarter worth $30,000. Salomon & Ludwin LLC increased its position in shares of Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings 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 last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

NUE has been the topic of several research analyst reports. Jefferies Financial Group dropped their target price on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Morgan Stanley cut their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group began coverage on shares of Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 target price for the company. UBS Group restated a “neutral” rating and set a $156.00 price target (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average price target of $163.63.

Nucor Stock Up 0.3 %

NYSE:NUE opened at $124.95 on Wednesday. The firm has a market capitalization of $29.34 billion, a P/E ratio of 12.07 and a beta of 1.60. The company’s fifty day moving average price is $132.82 and its 200-day moving average price is $144.17. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same quarter last year, the business posted $4.57 EPS. The company’s revenue was down 15.2% on a year-over-year basis. As a group, equities research analysts anticipate that Nucor Co. will post 8.13 EPS for the current year.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be given a dividend of $0.55 per share. This is a boost from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor’s dividend payout ratio (DPR) is currently 21.26%.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the transaction, the executive vice president now owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares in the company, valued at approximately $14,499,436. The trade was a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,680 shares of company stock valued at $4,773,724. 0.64% of the stock is owned by company insiders.

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.