Heritage Wealth Advisors Increases Position in Nucor Co. (NYSE:NUE)

Heritage Wealth Advisors lifted its position in Nucor Co. (NYSE:NUE) by 6.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,269 shares of the basic materials company’s stock after acquiring an additional 136 shares during the period. Heritage Wealth Advisors’ holdings in Nucor were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Nucor by 2.2% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,721 shares of the basic materials company’s stock worth $2,885,000 after purchasing an additional 527 shares during the last quarter. Modern Wealth Management LLC raised its position in Nucor by 70.8% during the 4th quarter. Modern Wealth Management LLC now owns 2,976 shares of the basic materials company’s stock worth $347,000 after buying an additional 1,234 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Nucor in the 4th quarter valued at $372,000. Horrell Capital Management Inc. increased its stake in shares of Nucor by 0.3% in the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company’s stock worth $3,111,000 after acquiring an additional 76 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Nucor in the fourth quarter worth $349,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 0.1 %

Shares of NYSE NUE opened at $127.51 on Wednesday. The firm has a market cap of $29.40 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The company’s 50-day simple moving average is $130.86 and its 200-day simple moving average is $137.56. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings data 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 return on equity of 9.85% and a net margin of 6.60%. During the same quarter last year, the company posted $3.16 earnings per share. Equities analysts predict that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders 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 dividend yield of 1.73%. The ex-dividend date is Monday, March 31st. Nucor’s payout ratio is 26.16%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NUE. Jefferies Financial Group upped their price target on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. UBS Group raised Nucor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $156.00 to $160.00 in a report on Monday. The Goldman Sachs Group started coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target for the company. StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.78.

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.