SeaCrest Wealth Management LLC Buys 72 Shares of Nucor Co. (NYSE:NUE)

SeaCrest Wealth Management LLC increased its stake in Nucor Co. (NYSE:NUE) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,057 shares of the basic materials company’s stock after purchasing an additional 72 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Nucor were worth $692,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NUE. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Nucor in the 3rd quarter worth approximately $25,000. Providence Capital Advisors LLC grew its stake in Nucor by 15,470.4% in the 1st quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company’s stock valued at $27,000 after buying an additional 4,177 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Nucor in the 1st quarter valued at approximately $32,000. VisionPoint Advisory Group LLC purchased a new position in Nucor in the 2nd quarter valued at approximately $39,000. Finally, OFI Invest Asset Management purchased a new position in Nucor in the 3rd quarter valued at approximately $40,000. Institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NUE. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. JPMorgan Chase & Co. lifted their price objective on shares of Nucor from $151.00 to $158.00 and gave the company a “neutral” rating in a research note on Tuesday, December 12th. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Finally, UBS Group initiated coverage on shares of Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target for the company. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Nucor has an average rating of “Hold” and an average price target of $186.67.

Nucor Price Performance

Shares of NUE traded down $0.66 during mid-day trading on Friday, reaching $197.90. 1,051,990 shares of the stock traded hands, compared to its average volume of 1,337,630. The firm has a fifty day moving average price of $185.10 and a 200 day moving average price of $168.96. The company has a market cap of $47.49 billion, a price-to-earnings ratio of 11.00 and a beta of 1.61. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30. Nucor Co. has a 1 year low of $129.79 and a 1 year high of $199.00.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.33. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same period in the previous year, the business earned $4.89 EPS. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. As a group, equities research analysts predict that Nucor Co. will post 14.03 earnings per share for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.09%. Nucor’s dividend payout ratio (DPR) is presently 12.01%.

Insider Buying and Selling

In related news, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the transaction, the executive vice president now directly owns 85,326 shares in the company, valued at $15,902,206.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Nucor news, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the sale, the executive vice president now directly owns 85,326 shares of the company’s stock, valued at $15,902,206.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was 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 of the company’s stock, valued at $15,386,751.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,151 shares of company stock worth $7,308,683. Corporate insiders own 0.46% of the company’s stock.

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.