Nucor Co. (NYSE:NUE) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its stake in shares of Nucor Co. (NYSE:NUE) by 83.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,400 shares of the basic materials company’s stock after acquiring an additional 3,357 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Nucor were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Householder Group Estate & Retirement Specialist LLC acquired a new position in Nucor in the 3rd quarter valued at $25,000. Valley National Advisers Inc. increased 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 acquiring an additional 172 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Nucor during the first quarter worth about $32,000. Exchange Traded Concepts LLC boosted its holdings in Nucor by 2,410.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 241 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Nucor during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Down 1.4 %

Shares of NUE opened at $194.53 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35. The stock has a market cap of $46.68 billion, a price-to-earnings ratio of 10.81 and a beta of 1.61. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $203.00. The firm has a 50 day simple moving average of $190.42 and a 200-day simple moving average of $172.43.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.33. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. Nucor’s revenue was down 11.7% compared to the same quarter last year. During the same quarter last year, the business earned $4.89 earnings per share. Equities analysts forecast that Nucor Co. will post 13 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.11%. Nucor’s payout ratio is 12.01%.

Insider Buying and Selling

In other news, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the sale, the executive vice president now directly owns 85,326 shares of the company’s stock, valued at approximately $15,902,206.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Allen C. Behr sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the transaction, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the sale, the executive vice president now owns 85,326 shares of the company’s stock, valued at $15,902,206.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,151 shares of company stock valued at $7,308,683. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on NUE shares. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. UBS Group assumed coverage on shares of Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective on the stock. Finally, StockNews.com upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Nucor presently has an average rating of “Moderate Buy” and an average target price of $186.67.

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.