Corient Private Wealth LLC Trims Stock Holdings in Nucor Co. (NYSE:NUE)

Corient Private Wealth LLC lowered its holdings in shares of Nucor Co. (NYSE:NUE) by 13.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,272 shares of the basic materials company’s stock after selling 11,230 shares during the quarter. Corient Private Wealth LLC’s holdings in Nucor were worth $8,318,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Crews Bank & Trust purchased a new position in shares of Nucor during the fourth quarter worth approximately $29,000. New Wave Wealth Advisors LLC bought a new position in Nucor in the fourth quarter worth approximately $33,000. Versant Capital Management Inc increased its holdings in Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 114 shares during the period. Beacon Capital Management LLC raised its position in Nucor by 29.1% during the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 94 shares in the last quarter. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Nucor in the 4th quarter worth $53,000. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 1.2 %

Shares of NYSE:NUE opened at $129.42 on Friday. The business’s 50-day moving average is $130.59 and its 200 day moving average is $138.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00. The firm has a market capitalization of $29.84 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) 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 quarter in the prior year, the company earned $3.16 EPS. On average, research analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.70%. Nucor’s payout ratio is currently 26.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Argus set a $155.00 price target on Nucor in a research note on Wednesday, March 5th. The Goldman Sachs Group began coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. Citigroup lowered their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group lifted their price objective on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upped their target price on Nucor from $150.00 to $156.00 and gave the stock 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.33.

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.