3,487 Shares in Nucor Co. (NYSE:NUE) Bought by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC acquired a new stake in shares of Nucor Co. (NYSE:NUE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,487 shares of the basic materials company’s stock, valued at approximately $407,000.

Several other institutional investors have also modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Nucor during the 3rd quarter worth about $26,000. Coastline Trust Co purchased a new stake in Nucor during the 3rd quarter worth approximately $29,000. Brown Lisle Cummings Inc. acquired a new position in shares of Nucor during the third quarter valued at approximately $30,000. Salomon & Ludwin LLC lifted its position in shares of Nucor by 45.6% in the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 72 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 114 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Up 0.3 %

Shares of Nucor stock opened at $124.95 on Wednesday. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The firm has a market capitalization of $29.34 billion, a price-to-earnings ratio of 12.07 and a beta of 1.60. The stock has a 50 day moving average of $132.82 and a 200 day moving average of $144.17.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period last year, the company earned $4.57 EPS. As a group, research analysts predict that Nucor Co. will post 8.13 earnings per share for the current year.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.76%. This is an increase from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor’s payout ratio is 21.26%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NUE shares. The Goldman Sachs Group assumed coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. Jefferies Financial Group decreased their price target on shares of Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Morgan Stanley dropped their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. UBS Group reissued a “neutral” rating and issued a $156.00 target price (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. dropped their price target on Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus price target of $163.63.

Insider Transactions at Nucor

In related news, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. The trade was a 8.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares of the company’s stock, valued at $29,109,918.96. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,680 shares of company stock worth $4,773,724. 0.64% of the stock is currently owned by insiders.

Nucor Company 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.