Flagship Wealth Advisors LLC Acquires New Holdings in Nucor Co. (NYSE:NUE)

Flagship Wealth Advisors LLC acquired a new stake in Nucor Co. (NYSE:NUE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 805 shares of the basic materials company’s stock, valued at approximately $94,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cibc World Markets Corp raised its stake in shares of Nucor by 293.4% during the fourth quarter. Cibc World Markets Corp now owns 127,347 shares of the basic materials company’s stock valued at $14,863,000 after acquiring an additional 94,980 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Nucor by 7.9% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 5,611 shares of the basic materials company’s stock valued at $655,000 after acquiring an additional 409 shares during the last quarter. SlateStone Wealth LLC raised its stake in shares of Nucor by 2.2% during the fourth quarter. SlateStone Wealth LLC now owns 8,195 shares of the basic materials company’s stock valued at $956,000 after acquiring an additional 175 shares during the last quarter. GWN Securities Inc. bought a new position in shares of Nucor during the fourth quarter valued at $565,000. Finally, Glenview Trust co raised its stake in shares of Nucor by 162.3% during the fourth quarter. Glenview Trust co now owns 3,950 shares of the basic materials company’s stock valued at $461,000 after acquiring an additional 2,444 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NUE shares. JPMorgan Chase & Co. raised their price target on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. The Goldman Sachs Group began coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price target for the company. StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Jefferies Financial Group increased their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley increased their price objective on shares of Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.33.

Nucor Trading Down 2.0 %

NYSE:NUE opened at $129.49 on Tuesday. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $29.85 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.96 and a beta of 1.58. The firm has a fifty day simple moving average of $129.93 and a two-hundred day simple moving average of $138.27. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the business earned $3.16 earnings per share. Analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is 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.