SeaCrest Wealth Management LLC Raises Stock Position in Nucor Co. (NYSE:NUE)

SeaCrest Wealth Management LLC grew its holdings in Nucor Co. (NYSE:NUE) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,057 shares of the basic materials company’s stock after acquiring an additional 72 shares during the period. SeaCrest Wealth Management LLC’s holdings in Nucor were worth $692,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its stake in shares of Nucor by 127,059.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 155,232,061 shares of the basic materials company’s stock worth $20,461,138,000 after purchasing an additional 155,109,984 shares during the period. Geode Capital Management LLC boosted its stake in shares of Nucor by 0.4% during the 1st quarter. Geode Capital Management LLC now owns 5,438,353 shares of the basic materials company’s stock worth $841,209,000 after purchasing an additional 23,366 shares during the period. Morgan Stanley boosted its stake in shares of Nucor by 30.0% during the 4th quarter. Morgan Stanley now owns 4,247,626 shares of the basic materials company’s stock worth $559,880,000 after purchasing an additional 979,824 shares during the period. Northern Trust Corp boosted its stake in shares of Nucor by 3.7% during the 3rd quarter. Northern Trust Corp now owns 4,175,571 shares of the basic materials company’s stock worth $652,851,000 after purchasing an additional 149,589 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Nucor by 7.6% during the 3rd quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock worth $353,794,000 after purchasing an additional 159,230 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NUE has been the subject of a number of research analyst reports. 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 report on Wednesday, March 13th. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. UBS Group initiated coverage on shares of Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective for the company. Finally, 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 report on Tuesday, December 12th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $186.67.

Nucor Stock Down 0.3 %

Shares of NYSE:NUE traded down $0.66 during trading hours on Friday, hitting $197.90. The company’s stock had a trading volume of 1,051,990 shares, compared to its average volume of 1,337,630. Nucor Co. has a 52 week low of $129.79 and a 52 week high of $199.00. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35. The company has a market capitalization of $47.49 billion, a price-to-earnings ratio of 11.00 and a beta of 1.61. The firm’s fifty day moving average price is $185.10 and its 200 day moving average price is $168.96.

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

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Wednesday, March 27th. Nucor’s payout ratio is currently 12.01%.

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the transaction, the executive vice president now owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Nucor news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 80,902 shares in the company, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. Insiders have sold a total of 38,151 shares of company stock valued at $7,308,683 in the last 90 days. Insiders own 0.46% of the company’s stock.

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.