Harbour Investments Inc. Sells 111 Shares of Nucor Co. (NYSE:NUE)

Harbour Investments Inc. cut its position in shares of Nucor Co. (NYSE:NUE) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,426 shares of the basic materials company’s stock after selling 111 shares during the quarter. Harbour Investments Inc.’s holdings in Nucor were worth $166,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NUE. Crews Bank & Trust bought a new position in Nucor in the fourth quarter valued at approximately $29,000. New Wave Wealth Advisors LLC bought a new position in Nucor in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc grew its stake in Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 114 shares in the last quarter. Beacon Capital Management LLC grew its stake in Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 94 shares in the last quarter. Finally, Bank of Jackson Hole Trust bought a new position in Nucor in the fourth quarter valued at approximately $53,000. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NUE. Citigroup cut their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Morgan Stanley raised their price objective on Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Jefferies Financial Group raised their price objective on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $164.33.

Nucor Stock Performance

NYSE:NUE opened at $122.02 on Friday. The stock has a market cap of $28.13 billion, a P/E ratio of 14.51, a PEG ratio of 0.96 and a beta of 1.58. The stock has a 50 day simple moving average of $130.65 and a 200 day simple moving average of $137.75. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings data 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 period in the previous year, the firm posted $3.16 earnings per share. Research analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current 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 issued a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.80%. Nucor’s dividend payout ratio 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.