OneAscent Wealth Management LLC Purchases 274 Shares of Nucor Co. (NYSE:NUE)

OneAscent Wealth Management LLC boosted its position in Nucor Co. (NYSE:NUE) by 17.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,864 shares of the basic materials company’s stock after purchasing an additional 274 shares during the period. OneAscent Wealth Management LLC’s holdings in Nucor were worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC bought a new stake in shares of Nucor during the first quarter valued at approximately $27,000. Criterion Capital Advisors LLC acquired a new stake in shares of Nucor during the fourth quarter worth $25,000. Tompkins Financial Corp lifted its stake in shares of Nucor by 208.0% during the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after buying an additional 104 shares during the period. Fortitude Family Office LLC lifted its stake in shares of Nucor by 54.1% during the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after buying an additional 59 shares during the period. Finally, Valley National Advisers Inc. lifted its stake in shares of Nucor by 716.7% during the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after buying an additional 172 shares during the period. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NUE stock traded up $3.90 on Friday, reaching $158.08. 3,517,842 shares of the company were exchanged, compared to its average volume of 1,678,765. The company has a market cap of $37.90 billion, a price-to-earnings ratio of 9.30 and a beta of 1.60. The business has a 50-day moving average price of $166.46 and a 200 day moving average price of $177.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. Nucor Co. has a 1 year low of $140.07 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings data 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). Nucor had a net margin of 12.40% and a return on equity of 19.62%. The business had revenue of $8.14 billion for the quarter, compared to analysts’ expectations of $8.26 billion. During the same period in the prior year, the company posted $4.45 EPS. The firm’s revenue was down 6.6% on a year-over-year basis. Equities research analysts forecast that Nucor Co. will post 10.84 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be paid 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 12.71%.

Wall Street Analysts Forecast Growth

NUE has been the subject of several research reports. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group began 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. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday, June 11th. Finally, Bank of America decreased their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Nucor has a consensus rating of “Hold” and an average price target of $189.67.

Nucor Company 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.