Avantax Advisory Services Inc. Has $2.08 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Avantax Advisory Services Inc. trimmed its position in Nucor Co. (NYSE:NUE) by 13.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 17,853 shares of the basic materials company’s stock after selling 2,796 shares during the period. Avantax Advisory Services Inc.’s holdings in Nucor were worth $2,084,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Essential Planning LLC. acquired a new stake in shares of Nucor in the 4th quarter valued at approximately $812,000. EverSource Wealth Advisors LLC raised its holdings in Nucor by 51.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,093 shares of the basic materials company’s stock worth $128,000 after buying an additional 370 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Nucor by 14.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,132 shares of the basic materials company’s stock worth $832,000 after buying an additional 875 shares during the period. HighTower Advisors LLC raised its holdings in Nucor by 8.7% during the 4th quarter. HighTower Advisors LLC now owns 67,202 shares of the basic materials company’s stock worth $7,843,000 after buying an additional 5,385 shares during the period. Finally, Inspire Advisors LLC raised its holdings in Nucor by 5.9% during the 4th quarter. Inspire Advisors LLC now owns 5,296 shares of the basic materials company’s stock worth $618,000 after buying an additional 297 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Price Performance

NYSE:NUE opened at $132.26 on Monday. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. 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 fifty day simple moving average of $129.75 and a 200 day simple moving average of $138.42. The stock has a market capitalization of $30.49 billion, a PE ratio of 15.73, a P/E/G ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the firm earned $3.16 earnings per share. On average, research analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.66%. Nucor’s dividend payout ratio is presently 26.16%.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. Citigroup dropped their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Morgan Stanley lifted their price objective on shares of Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.33.

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.