Nucor Co. (NYSE:NUE) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its position in shares of Nucor Co. (NYSE:NUE) by 14.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,132 shares of the basic materials company’s stock after purchasing an additional 875 shares during the period. Sequoia Financial Advisors LLC’s holdings in Nucor were worth $832,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NUE. GSA Capital Partners LLP acquired a new position in Nucor during the third quarter worth $239,000. CIBC Asset Management Inc lifted its stake in Nucor by 7.5% during the third quarter. CIBC Asset Management Inc now owns 35,179 shares of the basic materials company’s stock worth $5,289,000 after purchasing an additional 2,461 shares in the last quarter. Coastline Trust Co acquired a new position in Nucor during the third quarter worth $29,000. Mizuho Markets Americas LLC lifted its stake in Nucor by 2.6% during the third quarter. Mizuho Markets Americas LLC now owns 36,436 shares of the basic materials company’s stock worth $5,478,000 after purchasing an additional 914 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Nucor by 25.7% during the third quarter. Thrivent Financial for Lutherans now owns 1,283,111 shares of the basic materials company’s stock worth $192,902,000 after purchasing an additional 262,493 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Performance

NYSE:NUE opened at $132.26 on Monday. The firm has a market capitalization of $30.49 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The business’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. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same period in the prior year, the firm earned $3.16 earnings per share. On average, sell-side analysts anticipate 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. Shareholders of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.66%. Nucor’s dividend payout ratio is presently 26.16%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NUE shares. Citigroup cut their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Jefferies Financial Group upped their price objective on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Morgan Stanley upped their price objective on Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their price objective on Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Finally, The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $164.33.

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.