Cannon Advisors Inc. Has $365,000 Stock Position in Nucor Co. (NYSE:NUE)

Cannon Advisors Inc. trimmed its position in shares of Nucor Co. (NYSE:NUE) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,126 shares of the basic materials company’s stock after selling 213 shares during the period. Cannon Advisors Inc.’s holdings in Nucor were worth $365,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Crews Bank & Trust acquired a new position in shares of Nucor in the fourth quarter valued at $29,000. New Wave Wealth Advisors LLC bought a new stake in Nucor in the 4th quarter valued at $33,000. Versant Capital Management Inc raised its stake in shares of Nucor by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after buying an additional 114 shares in the last quarter. Beacon Capital Management LLC lifted its holdings in shares of Nucor by 29.1% during the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 94 shares during the period. Finally, Millstone Evans Group LLC acquired a new stake in shares of Nucor during the 4th quarter valued at about $50,000. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NUE stock opened at $120.43 on Tuesday. The stock’s fifty day moving average is $130.90 and its 200-day moving average is $137.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. Nucor Co. has a 52 week low of $112.25 and a 52 week high of $203.00. The stock has a market capitalization of $27.76 billion, a PE ratio of 14.32, a PEG ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE) last issued its quarterly earnings data 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 quarter last year, the company posted $3.16 EPS. Equities research analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio is currently 26.16%.

Analysts Set New Price Targets

NUE has been the subject of a number of analyst reports. Jefferies Financial Group raised their price target on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. UBS Group raised Nucor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $156.00 to $160.00 in a research note on Monday, March 24th. Argus set a $155.00 price objective on Nucor in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group initiated coverage on shares of Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Nucor has an average rating of “Moderate Buy” and an average price target of $164.44.

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.