Unique Wealth Strategies LLC Takes Position in Nucor Co. (NYSE:NUE)

Unique Wealth Strategies LLC acquired a new stake in shares of Nucor Co. (NYSE:NUE) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 4,278 shares of the basic materials company’s stock, valued at approximately $745,000.

Other institutional investors have also recently made changes to their positions in the company. Citizens Financial Group Inc. RI bought a new position in shares of Nucor during the fourth quarter valued at approximately $226,000. Golden State Equity Partners bought a new position in Nucor in the fourth quarter worth $237,000. Bryn Mawr Capital Management LLC raised its holdings in Nucor by 114.0% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 9,204 shares of the basic materials company’s stock worth $1,602,000 after purchasing an additional 4,904 shares in the last quarter. Syon Capital LLC raised its holdings in Nucor by 8.8% in the fourth quarter. Syon Capital LLC now owns 1,919 shares of the basic materials company’s stock worth $334,000 after purchasing an additional 155 shares in the last quarter. Finally, Bailard Inc. bought a new position in Nucor in the fourth quarter worth $233,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. UBS Group assumed coverage on Nucor in a research note on Tuesday, January 16th. They issued a “buy” rating and a $210.00 target price on the stock. BMO Capital Markets cut their target price on Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research note on Wednesday. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their price objective on Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $193.14.

Insider Transactions at Nucor

In other news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the sale, the executive vice president now owns 85,326 shares of the company’s stock, valued at approximately $15,902,206.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Insiders have sold 38,151 shares of company stock valued at $7,308,683 over the last quarter. 0.46% of the stock is currently owned by company insiders.

Nucor Stock Performance

NYSE:NUE traded down $0.46 on Friday, hitting $175.42. The stock had a trading volume of 1,253,895 shares, compared to its average volume of 1,285,448. The stock has a market cap of $42.10 billion, a price-to-earnings ratio of 10.32 and a beta of 1.61. The company has a quick ratio of 2.35, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. The business’s 50-day simple moving average is $190.62 and its two-hundred day simple moving average is $174.32. Nucor Co. has a 52-week low of $129.79 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). The firm had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $4.45 earnings per share. As a group, research analysts predict that Nucor Co. will post 12.82 earnings per share for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s dividend payout ratio (DPR) is currently 12.71%.

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.