Cetera Trust Company N.A Makes New Investment in Nucor Co. (NYSE:NUE)

Cetera Trust Company N.A purchased a new position in Nucor Co. (NYSE:NUE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 490 shares of the basic materials company’s stock, valued at approximately $85,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Criterion Capital Advisors LLC purchased a new position in shares of Nucor in the fourth quarter worth $25,000. Valley National Advisers Inc. increased its stake in shares of Nucor by 716.7% in the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 172 shares during the period. Householder Group Estate & Retirement Specialist LLC increased its stake in shares of Nucor by 36.6% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 59 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Nucor in the third quarter worth $40,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Nucor by 2,410.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 241 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 0.2 %

Shares of NYSE NUE opened at $191.74 on Tuesday. The company’s 50-day simple moving average is $191.30 and its 200-day simple moving average is $174.06. Nucor Co. has a 52-week low of $129.79 and a 52-week high of $203.00. The firm has a market cap of $46.01 billion, a price-to-earnings ratio of 10.66 and a beta of 1.61. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.60 by ($0.14). Nucor had a net margin of 13.03% and a return on equity of 21.42%. The company had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same quarter last year, the business earned $4.45 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities analysts predict that Nucor Co. will post 12.93 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be given a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.13%. Nucor’s dividend payout ratio (DPR) is 12.01%.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of research reports. StockNews.com upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. UBS Group initiated coverage on shares of Nucor in a research note on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price objective on the stock. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.83.

Insider Activity

In other news, EVP Kenneth Rex Query sold 5,500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the transaction, the executive vice president now directly owns 85,326 shares of the company’s stock, valued at $15,902,206.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Allen C. Behr sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the transaction, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at $15,386,751.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kenneth Rex Query sold 5,500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the transaction, the executive vice president now directly owns 85,326 shares in the company, valued at $15,902,206.62. The disclosure for this sale can be found here. Insiders have sold a total of 38,151 shares of company stock worth $7,308,683 over the last 90 days. 0.64% of the stock is currently owned by company insiders.

Nucor 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.