Modera Wealth Management LLC Raises Stock Holdings in Nucor Co. (NYSE:NUE)

Modera Wealth Management LLC grew its position in Nucor Co. (NYSE:NUE) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,979 shares of the basic materials company’s stock after acquiring an additional 242 shares during the quarter. Modera Wealth Management LLC’s holdings in Nucor were worth $1,165,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Gladstone Institutional Advisory LLC boosted its stake in shares of Nucor by 18.1% during the third quarter. Gladstone Institutional Advisory LLC now owns 2,829 shares of the basic materials company’s stock worth $425,000 after buying an additional 433 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Nucor by 5.2% in the third quarter. Farther Finance Advisors LLC now owns 2,009 shares of the basic materials company’s stock valued at $302,000 after purchasing an additional 100 shares during the period. Conning Inc. raised its stake in shares of Nucor by 54.3% during the third quarter. Conning Inc. now owns 3,366 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,185 shares during the last quarter. Van ECK Associates Corp increased its stake in Nucor by 9.1% in the 3rd quarter. Van ECK Associates Corp now owns 218,698 shares of the basic materials company’s stock valued at $30,981,000 after buying an additional 18,325 shares during the period. Finally, National Pension Service raised its position in Nucor by 3.2% during the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock worth $98,097,000 after buying an additional 20,258 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NUE shares. Jefferies Financial Group raised their price objective on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. UBS Group reiterated a “neutral” rating and set a $156.00 price target (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. The Goldman Sachs Group initiated coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. Finally, StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.13.

Nucor Trading Down 2.6 %

Shares of NUE stock opened at $133.94 on Tuesday. The company has a market capitalization of $31.45 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 0.96 and a beta of 1.60. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $127.21 and a 200 day moving average price of $139.44. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating 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 period last year, the firm earned $3.16 earnings per share. Research analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio is presently 26.16%.

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.