Glenview Trust co Purchases 2,444 Shares of Nucor Co. (NYSE:NUE)

Glenview Trust co boosted its position in shares of Nucor Co. (NYSE:NUE) by 162.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,950 shares of the basic materials company’s stock after purchasing an additional 2,444 shares during the period. Glenview Trust co’s holdings in Nucor were worth $461,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock valued at $1,724,117,000 after purchasing an additional 326,181 shares during the last quarter. Everence Capital Management Inc. bought a new position in Nucor during the 4th quarter valued at about $565,000. BIP Wealth LLC bought a new position in Nucor during the 3rd quarter valued at about $681,000. Geode Capital Management LLC lifted its holdings in Nucor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after purchasing an additional 74,569 shares during the last quarter. Finally, InvesTrust bought a new position in Nucor during the 4th quarter valued at about $4,388,000. 76.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Citigroup lowered their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. UBS Group restated a “neutral” rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. JPMorgan Chase & Co. raised their price objective on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Jefferies Financial Group raised their price objective on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group assumed coverage on shares of Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. Four 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 stock. According to data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus target price of $164.33.

Nucor Stock Down 2.0 %

Shares of NYSE:NUE opened at $129.49 on Tuesday. Nucor Co. has a one year low of $112.25 and a one year high of $203.00. The company has a 50 day moving average of $129.93 and a 200-day moving average of $138.27. 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 stock has a market cap of $29.85 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping 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 quarter in the previous year, the business posted $3.16 earnings per share. On average, sell-side analysts forecast that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio is currently 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.