SlateStone Wealth LLC Grows Stake in Nucor Co. (NYSE:NUE)

SlateStone Wealth LLC increased its holdings in shares of Nucor Co. (NYSE:NUE) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,195 shares of the basic materials company’s stock after purchasing an additional 175 shares during the quarter. SlateStone Wealth LLC’s holdings in Nucor were worth $956,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. GWN Securities Inc. purchased a new stake in shares of Nucor during the fourth quarter worth about $565,000. Glenview Trust co grew its position in shares of Nucor by 162.3% during the fourth quarter. Glenview Trust co now owns 3,950 shares of the basic materials company’s stock worth $461,000 after purchasing an additional 2,444 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Nucor by 6.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,404 shares of the basic materials company’s stock worth $1,098,000 after purchasing an additional 607 shares in the last quarter. Choate Investment Advisors grew its position in shares of Nucor by 3.7% during the fourth quarter. Choate Investment Advisors now owns 6,451 shares of the basic materials company’s stock worth $753,000 after purchasing an additional 231 shares in the last quarter. Finally, Madison Investment Advisors LLC purchased a new position in Nucor during the 4th quarter valued at approximately $252,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

NUE has been the subject of several research analyst reports. Citigroup cut their price target on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Morgan Stanley raised their price target on Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, UBS Group restated a “neutral” rating and set a $156.00 price target (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. Four 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. According to data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.33.

Nucor Stock Up 2.1 %

Shares of NUE stock opened at $132.26 on Monday. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The stock’s fifty day moving average price is $129.75 and its 200 day moving average price is $138.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The company has a market cap of $30.49 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating 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 quarter in the prior year, the firm posted $3.16 EPS. On average, research analysts expect that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.66%. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

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.