Schechter Investment Advisors LLC grew its stake in Nucor Co. (NYSE:NUE – Get Rating) by 6.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,004 shares of the basic materials company’s stock after purchasing an additional 113 shares during the period. Schechter Investment Advisors LLC’s holdings in Nucor were worth $264,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Main Street Financial Solutions LLC lifted its stake in shares of Nucor by 2.7% during the 4th quarter. Main Street Financial Solutions LLC now owns 2,676 shares of the basic materials company’s stock worth $353,000 after acquiring an additional 71 shares during the last quarter. Sky Investment Group LLC lifted its stake in shares of Nucor by 3.7% during the 4th quarter. Sky Investment Group LLC now owns 2,018 shares of the basic materials company’s stock worth $266,000 after acquiring an additional 72 shares during the last quarter. Lumature Wealth Partners LLC lifted its stake in shares of Nucor by 4.0% during the 3rd quarter. Lumature Wealth Partners LLC now owns 1,983 shares of the basic materials company’s stock worth $212,000 after acquiring an additional 76 shares during the last quarter. Retirement Guys Formula LLC increased its holdings in Nucor by 1.9% during the 3rd quarter. Retirement Guys Formula LLC now owns 4,135 shares of the basic materials company’s stock worth $442,000 after purchasing an additional 79 shares during the period. Finally, Equitable Holdings Inc. increased its holdings in Nucor by 4.0% during the 3rd quarter. Equitable Holdings Inc. now owns 2,092 shares of the basic materials company’s stock worth $224,000 after purchasing an additional 81 shares during the period. 78.33% of the stock is owned by institutional investors.
Nucor Trading Down 0.9 %
Shares of NYSE:NUE opened at $145.55 on Friday. Nucor Co. has a 12-month low of $100.13 and a 12-month high of $182.68. The business’s fifty day simple moving average is $143.30 and its 200-day simple moving average is $150.32. The company has a market capitalization of $36.57 billion, a PE ratio of 5.71 and a beta of 1.56. The company has a current ratio of 3.74, a quick ratio of 2.28 and a debt-to-equity ratio of 0.33.
Nucor declared that its Board of Directors has authorized a stock buyback program on Thursday, May 11th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Nucor Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, June 30th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $2.04 annualized dividend and a yield of 1.40%. Nucor’s dividend payout ratio (DPR) is 8.00%.
Analyst Ratings Changes
Several research analysts have commented on the company. Wolfe Research upgraded Nucor from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 1st. JPMorgan Chase & Co. assumed coverage on Nucor in a report on Tuesday, May 23rd. They set an “underweight” rating and a $130.00 price objective on the stock. StockNews.com assumed coverage on Nucor in a report on Thursday, May 18th. They set a “hold” rating on the stock. The Goldman Sachs Group raised their price objective on Nucor from $144.00 to $161.00 and gave the stock a “neutral” rating in a report on Friday, March 10th. Finally, Credit Suisse Group raised their price objective on Nucor from $140.00 to $156.00 and gave the stock an “outperform” rating in a report on Friday, March 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $148.88.
Nucor Profile
Nucor Corporation engages in manufacture and sale of steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products.
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