Waldron Private Wealth LLC Has $525,000 Position in Nucor Co. (NYSE:NUE)

Waldron Private Wealth LLC lifted its stake in shares of Nucor Co. (NYSE:NUE) by 2.5% during the fourth quarter, Holdings Channel reports. The fund owned 3,018 shares of the basic materials company’s stock after buying an additional 73 shares during the quarter. Waldron Private Wealth LLC’s holdings in Nucor were worth $525,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NUE. Fairfield Bush & CO. acquired a new position in Nucor during the first quarter worth $48,000. Synovus Financial Corp raised its holdings in Nucor by 150.6% during the first quarter. Synovus Financial Corp now owns 7,198 shares of the basic materials company’s stock worth $1,067,000 after buying an additional 4,326 shares during the last quarter. Sei Investments Co. raised its holdings in Nucor by 106.2% during the first quarter. Sei Investments Co. now owns 35,889 shares of the basic materials company’s stock worth $5,328,000 after buying an additional 18,488 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Nucor during the first quarter worth $284,000. Finally, Brighton Jones LLC acquired a new position in Nucor during the first quarter worth $222,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

NUE has been the subject of several recent analyst reports. UBS Group initiated coverage on shares of Nucor in a research note on Tuesday, January 16th. They issued a “buy” rating and a $210.00 target price for the company. StockNews.com upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Finally, Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and increased their price target for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $186.67.

Nucor Price Performance

Shares of NYSE:NUE opened at $194.00 on Tuesday. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $46.56 billion, a PE ratio of 10.78 and a beta of 1.61. Nucor Co. has a twelve month low of $129.79 and a twelve month high of $203.00. The company has a 50-day moving average price of $190.66 and a two-hundred day moving average price of $172.81.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.33. The firm had revenue of $7.70 billion during 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%. The company’s quarterly revenue was down 11.7% on a year-over-year basis. 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 year.

Nucor Dividend Announcement

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

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 10,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,901,900.00. Following the completion of the sale, the executive vice president now directly owns 80,902 shares in the company, valued at $15,386,751.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,151 shares of company stock valued at $7,308,683. 0.64% of the stock is currently owned by corporate insiders.

About Nucor

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.