SVB Wealth LLC Takes $239,000 Position in Nucor Co. (NYSE:NUE)

SVB Wealth LLC purchased a new position in shares of Nucor Co. (NYSE:NUE) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,045 shares of the basic materials company’s stock, valued at approximately $239,000.

Several other hedge funds have also recently modified their holdings of the stock. Flputnam Investment Management Co. lifted its holdings in shares of Nucor by 44.2% during the fourth quarter. Flputnam Investment Management Co. now owns 5,423 shares of the basic materials company’s stock worth $633,000 after purchasing an additional 1,661 shares during the period. Waterway Wealth Management LLC lifted its holdings in shares of Nucor by 21.8% during the fourth quarter. Waterway Wealth Management LLC now owns 4,554 shares of the basic materials company’s stock worth $532,000 after purchasing an additional 814 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Nucor during the fourth quarter worth $15,452,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Nucor by 13.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 14,168 shares of the basic materials company’s stock worth $1,654,000 after purchasing an additional 1,650 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Nucor by 3.9% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 42,981 shares of the basic materials company’s stock worth $5,016,000 after purchasing an additional 1,600 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NUE shares. The Goldman Sachs Group started coverage on Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target for the company. JPMorgan Chase & Co. reduced their target price on Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. UBS Group reissued a “neutral” rating and issued a $156.00 target price (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group raised their target price on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus price target of $163.13.

Nucor Trading Up 2.3 %

Shares of NUE stock opened at $132.51 on Thursday. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The stock has a market cap of $31.11 billion, a P/E ratio of 15.76, a P/E/G ratio of 0.96 and a beta of 1.60. The business has a fifty day simple moving average of $127.75 and a 200-day simple moving average of $139.27. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the company earned $3.16 earnings per share. On average, analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is presently 26.16%.

About Nucor

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.