Coldstream Capital Management Inc. Increases Stock Position in Nucor Co. (NYSE:NUE)

Coldstream Capital Management Inc. increased its position in Nucor Co. (NYSE:NUE) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,677 shares of the basic materials company’s stock after buying an additional 181 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Nucor were worth $704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. raised its holdings in shares of Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 89 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Nucor during the 3rd quarter worth approximately $26,000. Coastline Trust Co purchased a new position in Nucor in the third quarter valued at approximately $29,000. Brown Lisle Cummings Inc. acquired a new position in Nucor during the third quarter valued at approximately $30,000. Finally, Salomon & Ludwin LLC grew its stake in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Ratings Changes

NUE has been the topic of a number of research reports. UBS Group reissued a “neutral” rating and issued a $156.00 target price (down previously from $171.00) on shares of Nucor in a research note on Thursday. BMO Capital Markets cut their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. The Goldman Sachs Group initiated coverage on Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $183.75.

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the sale, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares in the company, valued at $13,923,837.96. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,680 shares of company stock valued at $4,773,724. Insiders own 0.46% of the company’s stock.

Nucor Trading Down 4.7 %

Shares of NUE opened at $125.24 on Friday. Nucor Co. has a one year low of $125.00 and a one year high of $203.00. The stock has a 50-day moving average price of $149.65 and a 200 day moving average price of $151.83. 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 company has a market capitalization of $29.41 billion, a P/E ratio of 12.10 and a beta of 1.55.

Nucor (NYSE:NUE) last announced its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $4.57 EPS. Sell-side analysts forecast that Nucor Co. will post 8.5 EPS for the current fiscal year.

Nucor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.55 per share. This is a positive change from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 1.76%. The ex-dividend date is Tuesday, December 31st. Nucor’s dividend payout ratio (DPR) is currently 20.87%.

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.