EverSource Wealth Advisors LLC Increases Holdings in Nucor Co. (NYSE:NUE)

EverSource Wealth Advisors LLC raised its stake in Nucor Co. (NYSE:NUE) by 51.2% during the 4th quarter, HoldingsChannel reports. The firm owned 1,093 shares of the basic materials company’s stock after acquiring an additional 370 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Nucor were worth $128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NUE. Coastline Trust Co acquired a new stake in shares of Nucor in the third quarter valued at about $29,000. Crews Bank & Trust acquired a new stake in Nucor in the fourth quarter valued at approximately $29,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Nucor during the fourth quarter valued at approximately $33,000. Versant Capital Management Inc raised its stake in shares of Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 114 shares during the period. Finally, Beacon Capital Management LLC lifted its position in shares of Nucor by 29.1% during the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Price Performance

Shares of 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 company has a market capitalization of $29.85 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The business has a 50 day simple moving average of $129.93 and a 200-day simple moving average of $138.27.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the business earned $3.16 earnings per share. As a group, equities research analysts expect that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.70%. Nucor’s dividend payout ratio (DPR) is 26.16%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NUE shares. The Goldman Sachs Group started coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. Morgan Stanley boosted their price target on Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. UBS Group reissued a “neutral” rating and issued a $156.00 price target (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. Argus set a $155.00 price objective on Nucor in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. increased their target price on Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Four research 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.33.

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.