SteelPeak Wealth LLC Has $4.35 Million Stake in Nucor Co. (NYSE:NUE)

SteelPeak Wealth LLC increased its stake in shares of Nucor Co. (NYSE:NUEFree Report) by 172.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 21,935 shares of the basic materials company’s stock after acquiring an additional 13,875 shares during the quarter. SteelPeak Wealth LLC’s holdings in Nucor were worth $4,353,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NUE. Norges Bank acquired a new stake in Nucor in the fourth quarter worth $377,631,000. Pacer Advisors Inc. grew its stake in Nucor by 13.0% in the 4th quarter. Pacer Advisors Inc. now owns 2,070,960 shares of the basic materials company’s stock worth $360,430,000 after buying an additional 237,752 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nucor by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,499,893 shares of the basic materials company’s stock worth $261,041,000 after acquiring an additional 36,304 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Nucor by 6.7% in the 4th quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock worth $237,949,000 after acquiring an additional 85,475 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Nucor by 2.1% in the 4th quarter. Nordea Investment Management AB now owns 1,094,177 shares of the basic materials company’s stock worth $190,376,000 after acquiring an additional 22,596 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NUE shares. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. dropped their price target on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a report on Tuesday, June 11th. BMO Capital Markets decreased their target price on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday, June 17th. Bank of America cut their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group started coverage on shares of Nucor in a research note on Monday, May 20th. They set a “hold” rating and a $190.00 price objective for the company. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $189.67.

View Our Latest Stock Report on Nucor

Nucor Stock Up 2.5 %

NUE stock traded up $3.90 during trading on Friday, hitting $158.08. 3,517,842 shares of the company’s stock were exchanged, compared to its average volume of 1,678,765. The business has a 50-day moving average price of $166.46 and a two-hundred day moving average price of $177.87. The stock has a market capitalization of $37.90 billion, a price-to-earnings ratio of 9.30 and a beta of 1.60. Nucor Co. has a 52-week low of $140.07 and a 52-week high of $203.00. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUEGet Free Report) last released its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The firm had revenue of $8.14 billion for the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $4.45 EPS. As a group, equities research analysts expect that Nucor Co. will post 10.84 EPS for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 annualized dividend and a dividend yield of 1.37%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Nucor Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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