CIBC Private Wealth Group LLC Has $1.92 Million Stake in Nucor Co. (NYSE:NUE)

CIBC Private Wealth Group LLC increased its holdings in shares of Nucor Co. (NYSE:NUE) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,218 shares of the basic materials company’s stock after acquiring an additional 287 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Nucor were worth $1,917,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NUE. Schroder Investment Management Group increased its holdings in shares of Nucor by 4.3% in the fourth quarter. Schroder Investment Management Group now owns 407,299 shares of the basic materials company’s stock valued at $46,966,000 after purchasing an additional 16,940 shares during the last quarter. Allianz SE bought a new stake in shares of Nucor during the 4th quarter worth about $338,000. Transamerica Financial Advisors Inc. grew its stake in Nucor by 1,597.1% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 577 shares of the basic materials company’s stock valued at $68,000 after buying an additional 543 shares during the last quarter. Allstate Corp acquired a new stake in Nucor during the fourth quarter worth approximately $837,000. Finally, DnB Asset Management AS boosted its holdings in shares of Nucor by 4.7% during the fourth quarter. DnB Asset Management AS now owns 80,901 shares of the basic materials company’s stock worth $9,442,000 after acquiring an additional 3,618 shares during the period. Institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NUE shares. StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Morgan Stanley set a $164.00 target price on Nucor in a report on Monday, March 24th. Argus set a $155.00 price target on shares of Nucor in a research note on Wednesday, March 5th. UBS Group upgraded shares of Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $156.00 to $160.00 in a research note on Monday, March 24th. Finally, Jefferies Financial Group increased their target price on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $164.44.

Nucor Stock Performance

NYSE NUE opened at $123.29 on Thursday. 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 $28.42 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 0.96 and a beta of 1.58. 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’s 50 day simple moving average is $130.82 and its 200 day simple moving average is $136.86.

Nucor (NYSE:NUE) last issued its earnings results 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 return on equity of 9.85% and a net margin of 6.60%. During the same period in the prior year, the firm posted $3.16 EPS. As a group, research analysts expect that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.78%. Nucor’s payout ratio is currently 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.